Hashi Testnet launches, bringing native Bitcoin finance closer to global adoption - Crypto Economy

Hashi officially launched its testnet, moving forward with the integration of native Bitcoin into programmable financial markets. The infrastructure, built on the Sui network, allows developers, custodians and financial institutions to begin testing lending, credit and collateral management applications on Bitcoin ahead of the mainnet launch.

Among the most significant highlights of the launch is the Guardian Layer, a dedicated security mechanism that introduces configurable safeguards to slow down or block potentially malicious activity before collateral leaves the system.

All BTC is secured under a 2-of-2 multisig that requires an MPC signature from Hashi’s validators and an additional guardian signature, adding an extra layer of institutional-grade protection.

Legal firm Fenwick concluded that the protocol’s deposit and redemption mechanisms would not constitute taxable events under United States tax law, a key point for Hashi’s institutional adoption.

The ecosystem already counts more than 25 partners at launch, including BitGo, Cumberland, FalconX and Wave Digital Assets, which committed to participating for three years in priority projects to tokenize yield-bearing bond products in Bitcoin on the Sui protocol.

Source: https://blog.sui.io/hashi-testnet-is-live-bringing-native-bitcoin-finance-one-step-closer-to-global-adoption/

Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.

This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.