Sui announced the introduction of Hashi, a solution designed to maintain Bitcoin in a native on-chain state. Hashi is described as verifiable, controllable, and usable as collateral, addressing institutional distrust of cross-chain bridges and wrapped Bitcoin.
According to Odaily, institutions have expressed ongoing skepticism toward cross-chain bridges and wrapped Bitcoin. EvanWeb3 provided further explanation, noting that Hashi's global testnet will launch in the near future.