Sui has launched the Hashi testnet, opening the platform to developers, institutions, and infrastructure providers building financial applications backed by native Bitcoin. The testnet will allow teams to test integrations and prepare products before the planned mainnet launch.
Hashi is designed to expand Bitcoin beyond its role as a store of value. The protocol aims to support lending, borrowing, credit markets, and yield strategies using native BTC on Sui.
The launch also introduces the Guardian Layer, a security architecture designed to help institutions manage Bitcoin collateral while keeping transactions transparent and programmable. Another issue addressed by the project is taxation. According to Fenwick, a law firm specializing in digital assets, Hashi’s deposit and redemption mechanisms should not be treated as taxable events under U.S. tax law.
Hashi will now begin testing integrations with custody providers, wallets, lending protocols, and other financial infrastructure. Documentation and technical resources are already available for developers preparing to build on the testnet.
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