Overview
- Hashi's public testnet went live on Wednesday, July 22, 2026, giving builders, custodians, wallets, and more than 25 partners access to SDKs and documentation for integration and stress testing.
- The protocol lets users deposit native Bitcoin on the Bitcoin blockchain and mint hBTC on Sui so BTC can serve as programmable onchain collateral without moving the underlying coins off-chain.
- Hashi unveiled a defense-in-depth design called the Guardian Layer that adds a circuit-breaker style review for large withdrawals and requires a 2-of-2 multisig combining an MPC signature from Hashi validators with a guardian signature.
- Technical safeguards include MPC threshold signatures that need consensus of one-third of validators to sign, and Hashi plans extensive adversarial testing before any global testnet or mainnet rollout.
- Hashi cites institutional support from firms including BitGo, Ledger, Cumberland, SwissBorg and Wave Digital and a Fenwick legal opinion saying deposits and redemptions should not be U.S. taxable events, but public capital commitments and final timetables remain pending.