Sui to launch Hashi, a Bitcoin-backed lending layer

Layer 1 blockchain Sui announced on March 19 that it plans to launch Hashi, a primitive for Bitcoin-backed lending built on its network. According to an official blog post, Hashi is a decentralized primitive designed to enhance the capital efficiency of Bitcoin through a trustless smart contract structure on Sui. The platform aims to improve Bitcoin's access to decentralized finance (DeFi), allowing users to leverage native BTC as collateral for on-chain financial services such as stablecoin loans, structured products, and automated collateral management. Furthermore, it offers a more secure and flexible cross-chain transfer function that moves beyond traditional wrapping methods. Hashi is scheduled to launch its devnet soon. Even before its official launch, major industry institutions including BitGo, Bullish, FalconX, and Ledger have reportedly expressed their intention to participate.