Updated Jun 29, 2026, 3:51 p.m. Published Jun 29, 2026, 3:03 p.m.
2 min read
Alex Fazel of Swisborg says about 10 million or more users are now faced with finding a new crypto service provider as their current platform suspends services on July 1. (Shutterstock/Modified by CoinDesk)Summary
A key July 1 deadline under the European Union’s Markets in Crypto-Assets rules is forcing dozens of unlicensed exchanges to halt or restrict services, potentially displacing more than 10 million users.EU regulators have warned crypto firms operating without a MiCA license to wind down operations and help customers move to authorized providers, while proposing fines of up to 12.5% of annual turnover for major stablecoin issuers that breach the rules.Industry executives estimate that as many as 80% of Europe’s roughly 3,000 pre-MiCA virtual asset service providers may not continue after the deadline, prompting exchanges like Binance to scale back and rivals such as Coinbase and OKX to court users with incentives.The European Union's (EU) July 1 Markets in Crypto-Assets (MiCA) deadline could leave more than 10 million users looking for a new platform, Alex Fazel, chief partnership officer at Swissborg, told CoinDesk in an interview.
The latest deadline implementing the EU's crypto rules is forcing dozens of exchanges to halt or restrict services, with the European Securities and Markets Authority (ESMA) warning that crypto-asset service providers operating without a MiCA license after July 1 should wind down their businesses and help customers move to authorized providers or self-hosted wallets.
The deadline also comes as the European Banking Authority (EBA), which directly supervises significant stablecoin issuers under MiCA, proposed a framework on Friday that would allow fines of up to 12.5% of annual turnover for major issuers that breach the regulation. The consultation runs until Sept. 28, after which the methodology will be finalized.
Europe was thought to have had more than 3,000 registered virtual asset service providers (VASPs) as of 2024, according to the pre-MiCA categorization. As many as 80% of them will not continue after the deadline, Erald Ghoos, CEO of OKX Europe, told CoinDesk.
The immediate impact will fall on customers whose exchanges are withdrawing services, Fazel told CoinDesk
Several exchanges, including Binance, have announced changes to their European services ahead of the July 1 deadline, while others continue seeking MiCA authorization or adjusting their products.
"When a platform pulls back, users unfortunately absorb the shock, like a tenant being evicted by its landlord with no notice," Fazel said. "People shouldn't keep hunting for a new home. They should pick one built to stay."
"When you're choosing a new home, the price is one thing."But we need to look at the identity match, the platform, its culture, its security, the features you'll actually use, and the community you're joining."
"Incentives fade," he added. "A home you trust doesn't."
Coinbase and OKX last week offered deposit and transfer incentives to attract new users amid some exchanges scaling back services in Europe.
Fazel said those offers may persuade some customers to switch, but argued they should not be the deciding factor.
"Every exchange is piling into the same rat race of bigger bonuses, louder cheques," he said. "But money does not earn trust. A local track record does."
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The Evolution of the Crypto CEX Landscape: A Case Study on Binance
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
13 hours ago
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Why it matters:
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
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SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
4 minutes ago
Bithumb was fined for sharing user data overseas without consent.
South Korean regulatory authorities have ordered cryptocurrency exchange Bithumb to pay a 210 million won (approximately $136,000) fine for sharing user personal information with overseas platforms without user consent. According to an announcement released Thursday by South Korea’s Personal Information Protection Commission (PIPC), the relevant user data exposure occurred between September and November 2025. At that time, Bithumb transferred user information to overseas platforms while sharing its USDT market order book data. The PIPC also noted that when assisting users with asset transfers to 13 overseas exchanges, Bithumb failed to obtain full and sufficient user consent before sharing personal details including names, wallet addresses, and dates of birth. For the two violations, the PIPC not only imposed the fine but also ordered Bithumb to rectify its processes and management systems related to cross-border transmission of user information.
4 minutes ago
Analyst: SK Hynix’s US listing and fund-raising could trigger a valuation re-rating.
According to Bloomberg, SK Hynix is set to issue American Depositary Receipts (ADRs) on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, making it one of the largest ADR issuances in history. Market participants widely believe the move will significantly expand its global investor base and may drive a valuation re-rating. Multiple asset management firms project that if its valuation converges with Micron Technology’s, its share price could rise by 30% over the next year. One fund manager noted that SK Hynix should trade at a valuation at least on par with Micron, as demand for memory chips is likely to outpace supply for years to come. The listing comes amid an unusually strong boom in the memory chip sector. Shares of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking their best annual performance in decades. Demand for High Bandwidth Memory (HBM) from AI servers is widely seen as the driver of a structural "memory supercycle".
4 minutes ago
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
4 minutes ago
Bithumb was fined for sharing user data overseas without consent.
South Korean regulatory authorities have ordered cryptocurrency exchange Bithumb to pay a 210 million won (approximately $136,000) fine for sharing user personal information with overseas platforms without user consent. According to an announcement released Thursday by South Korea’s Personal Information Protection Commission (PIPC), the relevant user data exposure occurred between September and November 2025. At that time, Bithumb transferred user information to overseas platforms while sharing its USDT market order book data. The PIPC also noted that when assisting users with asset transfers to 13 overseas exchanges, Bithumb failed to obtain full and sufficient user consent before sharing personal details including names, wallet addresses, and dates of birth. For the two violations, the PIPC not only imposed the fine but also ordered Bithumb to rectify its processes and management systems related to cross-border transmission of user information.
4 minutes ago
Analyst: SK Hynix’s US listing and fund-raising could trigger a valuation re-rating.
According to Bloomberg, SK Hynix is set to issue American Depositary Receipts (ADRs) on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, making it one of the largest ADR issuances in history. Market participants widely believe the move will significantly expand its global investor base and may drive a valuation re-rating. Multiple asset management firms project that if its valuation converges with Micron Technology’s, its share price could rise by 30% over the next year. One fund manager noted that SK Hynix should trade at a valuation at least on par with Micron, as demand for memory chips is likely to outpace supply for years to come. The listing comes amid an unusually strong boom in the memory chip sector. Shares of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking their best annual performance in decades. Demand for High Bandwidth Memory (HBM) from AI servers is widely seen as the driver of a structural "memory supercycle".
4 minutes ago
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
SwissBorg has announced its partnership with Mastercard to launch the SwissBorg Debit Card. This collaboration marks a significant milestone for both companies and represents a crucial step in integrating cryptocurrency with traditional finance. The SwissBorg Crypto Card aims to provide users with an easy way to spend cryptocurrencies across a wide range of services and merchants that accept Mastercard.
Big news breaking 🚀
We’re proud to announce our partnership with @Mastercard as we prepare to launch the SwissBorg Debit Card. This marks a significant milestone both for SwissBorg and for the integration of cryptocurrency with everyday finance.
— SwissBorg (@swissborg) December 10, 2025 SwissBorg and Mastercard to Ensure Instant Crypto-to-Fiat Conversion The SwissBorg Debit Card will allow users to convert their cryptocurrencies into fiat currencies instantly during transactions. This feature ensures that individuals can use their digital assets in everyday purchases without the need for multiple conversions or lengthy processes. The card will function similarly to traditional debit cards, making it easier for cryptocurrency holders to access their funds in a manner familiar to most consumers.
The partnership enables seamless transactions at millions of locations worldwide where Mastercard is accepted. This collaboration enhances the user experience by bridging the gap between crypto and fiat currencies, ultimately making cryptocurrencies more accessible for day-to-day usage.
Bringing Web3 to Real-World Utility The SwissBorg Crypto Card is designed to bring true ownership of digital assets to its users, emphasizing the integration of Web3 technologies into everyday finance. By offering direct access to cryptocurrencies for daily spending, the card provides an innovative solution that connects the crypto world with the real economy. SwissBorg aims to continue its efforts in enhancing the utility of cryptocurrencies while offering a rewarding and secure financial tool for its community.
As the demand for crypto adoption grows, this partnership with Mastercard marks an important development in the cryptocurrency sector, helping to bring digital assets into mainstream financial ecosystems.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Base’s integration eliminates the complexity of cross-chain interaction while preserving the app’s one-tap simplicity. SwissBorg’s Meta-Exchange combines liquidity from fiat rails, decentralized exchanges, and centralized exchanges into a single, user-friendly trading platform. Today, SwissBorg, the leading cryptocurrency investment and earning app in Europe, revealed that Base has been integrated into its Meta-Exchange (MEX), increasing access to the rapidly developing Layer 2 ecosystem. SwissBorg users benefit from reduced slippage execution, improved access to new Base-native coins, and deeper liquidity channels as a result of this connection.
Key Base DEXs including Uniswap, PancakeSwap, and Aerodrome—the network’s native liquidity layer optimized for capital efficiency and early-stage token markets—now provide liquidity to the Meta-Exchange as part of the integration. As the ecosystem develops, more integrations will come.
SwissBorg’s Meta-Exchange combines liquidity from fiat rails, decentralized exchanges, and centralized exchanges into a single, user-friendly trading platform. Base’s integration eliminates the complexity of cross-chain interaction while preserving the app’s one-tap simplicity.
“Base is today the most active Layer-2 on Ethereum, home to some of the most exciting projects and tokens in the ecosystem,” said Cyrus Fazel, Co-Founder and CEO of SwissBorg. “With Base, Solana, BNB Chain, Avalanche, and more now live, SwissBorg covers almost all liquid tokens across crypto. One tap is all it takes to swap cross-chain, as our Meta-Exchange arbitrages liquidity and delivers execution that often outperforms traditional CEXs, without bridges, friction, or complexity.”
Based on the OP Stack and developed in partnership with Coinbase, Base provides a quick, affordable environment that is compatible with EVMs and has a growing development community. Base has established itself as a very busy center for DeFi, consumer-facing apps, and new token launches because to its high throughput and low transaction costs.
In addition to more recent integrations like Solana, Avalanche, Berachain, Hyperliquid, and BNB Chain, SwissBorg is expanding its multi-chain liquidity infrastructure by linking to Base. With just one touch, users may exchange Base-native assets for any SwissBorg-compatible token, eliminating the need for network switches, bridges, or external wallets.
Since the Meta-Exchange offers greater liquidity, wider token access, and less friction via a single, smooth interface, Base’s arrival is another advancement in SwissBorg’s goal to create the most potent cross-chain liquidity layer.
The leading community-driven cryptocurrency wealth management platform is SwissBorg, which was developed in Switzerland and has an EU license. SwissBorg is dedicated to openness and trust, and its goal is to democratize the future of finance so that everyone may achieve financial independence. At its heart is the innovative Meta-Exchange, which easily links to a number of decentralized and centralized exchanges to provide customers the greatest pricing and liquidity. In addition to trading, SwissBorg enables customers to access early Web3 possibilities via its Alpha Pre-Sales and provides tailored yield strategies with DeFi. At the center of their ecosystem, Swissborg’s token, BORG, offers its owners a host of advantages.
A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.
Lausanne, Switzerland, January 15th, 2026, Chainwire
SwissBorg, Europe’s leading app for investing and earning crypto, today announced the integration of Base into its Meta-Exchange (MEX), expanding access to the fast growing Layer 2 ecosystem. Through this connection, SwissBorg users gain deeper liquidity routes, better access to emerging Base-native tokens, and lower-slippage execution.
As part of the integration, the Meta-Exchange now supports liquidity from key Base DEXs, including Uniswap, PancakeSwap, and Aerodrome, the network’s native liquidity layer optimised for capital efficiency and early-stage token markets. Additional integrations will follow as the ecosystem matures.
SwissBorg’s Meta-Exchange aggregates liquidity from centralized exchanges, decentralized exchanges, and fiat rails, consolidating them into a unified, intuitive trading experience. The integration of Base maintains the app’s one-tap simplicity and removes the complexities of cross-chain interaction.
“Base is today the most active Layer-2 on Ethereum, home to some of the most exciting projects and tokens in the ecosystem,” said Cyrus Fazel, Co-Founder and CEO of SwissBorg. “With Base, Solana, BNB Chain, Avalanche, and more now live, SwissBorg covers almost all liquid tokens across crypto. One tap is all it takes to swap cross-chain, as our Meta-Exchange arbitrages liquidity and delivers execution that often outperforms traditional CEXs, without bridges, friction, or complexity.”
Base, built on the OP Stack in collaboration with Coinbase, offers a fast, low-cost environment with EVM compatibility and an expanding developer ecosystem. With high throughput and inexpensive transactions, Base has positioned itself as a highly active hub for DeFi, consumer-facing applications, and emerging token launches.
By connecting to Base, SwissBorg continues to extend its multi-chain liquidity infrastructure, adding to recent integrations such as Solana, Avalanche, Berachain, Hyperliquid, and BNB Chain. Users can swap Base-native assets against any SwissBorg-supported token in a single tap, without needing external wallets, bridges, or network switching.
The addition of Base is another step forward in SwissBorg’s mission to build the most powerful cross-chain liquidity layer broader vision, as the Meta-Exchange delivers more liquidity, broader token access, and less friction through a single, seamless interface.
About SwissBorg
SwissBorg is the leading community-driven crypto wealth management platform, engineered in Switzerland and licensed in the EU. Committed to trust and transparency, SwissBorg is on a mission to democratise the future of finance to make financial freedom possible for everyone. At its core is the groundbreaking Meta-Exchange, which seamlessly connects to multiple centralised and decentralised exchanges to secure the best liquidity and prices for users. Beyond trading, SwissBorg offers curated yield strategies through DeFi, and empowers users to access early Web3 opportunities through its Alpha Pre-Sales. Swissborg’s token, BORG, sits at the heart of their ecosystem providing a multitude of benefits to its holders.
Website | X | LinkedIn | Discord
Base Network
Base is an Ethereum Layer 2 (L2) network that provides a secure, low-cost, and developer-friendly environment for building decentralized applications. Its mission is to help make onchain the next online and support the onboarding of more than one billion users into the cryptoeconomy. Designed to serve as both the home for Coinbase’s onchain products and an open ecosystem for builders everywhere, Base aims to create an accessible, scalable foundation for the next generation of onchain applications and communities.
[PRESS RELEASE – Lausanne, Switzerland, January 15th, 2026]
SwissBorg, Europe’s leading app for investing and earning crypto, today announced the integration of Base into its Meta-Exchange (MEX), expanding access to the fast-growing Layer 2 ecosystem. Through this connection, SwissBorg users gain deeper liquidity routes, better access to emerging Base-native tokens, and lower-slippage execution.
As part of the integration, the Meta-Exchange now supports liquidity from key Base DEXs, including Uniswap, PancakeSwap, and Aerodrome, the network’s native liquidity layer optimised for capital efficiency and early-stage token markets. Additional integrations will follow as the ecosystem matures.
SwissBorg’s Meta-Exchange aggregates liquidity from centralized exchanges, decentralized exchanges, and fiat rails, consolidating them into a unified, intuitive trading experience. The integration of Base maintains the app’s one-tap simplicity and removes the complexities of cross-chain interaction.
“Base is today the most active Layer-2 on Ethereum, home to some of the most exciting projects and tokens in the ecosystem,” said Cyrus Fazel, Co-Founder and CEO of SwissBorg. “With Base, Solana, BNB Chain, Avalanche, and more now live, SwissBorg covers almost all liquid tokens across crypto. One tap is all it takes to swap cross-chain, as our Meta-Exchange arbitrages liquidity and delivers execution that often outperforms traditional CEXs, without bridges, friction, or complexity.”
Base, built on the OP Stack in collaboration with Coinbase, offers a fast, low-cost environment with EVM compatibility and an expanding developer ecosystem. With high throughput and inexpensive transactions, Base has positioned itself as a highly active hub for DeFi, consumer-facing applications, and emerging token launches.
By connecting to Base, SwissBorg continues to extend its multi-chain liquidity infrastructure, adding to recent integrations such as Solana, Avalanche, Berachain, Hyperliquid, and BNB Chain. Users can swap Base-native assets against any SwissBorg-supported token in a single tap, without needing external wallets, bridges, or network switching.
The addition of Base is another step forward in SwissBorg’s mission to build the most powerful cross-chain liquidity layer broader vision, as the Meta-Exchange delivers more liquidity, broader token access, and less friction through a single, seamless interface.
About SwissBorg
SwissBorg is the leading community-driven crypto wealth management platform, engineered in Switzerland and licensed in the EU. Committed to trust and transparency, SwissBorg is on a mission to democratise the future of finance to make financial freedom possible for everyone. At its core is the groundbreaking Meta-Exchange, which seamlessly connects to multiple centralised and decentralised exchanges to secure the best liquidity and prices for users. Beyond trading, SwissBorg offers curated yield strategies through DeFi, and empowers users to access early Web3 opportunities through its Alpha Pre-Sales. Swissborg’s token, BORG, sits at the heart of their ecosystem providing a multitude of benefits to its holders.
Website | X | LinkedIn | Discord
Base Network
Base is an Ethereum Layer 2 (L2) network that provides a secure, low-cost, and developer-friendly environment for building decentralized applications. Its mission is to help make onchain the next online and support the onboarding of more than one billion users into the cryptoeconomy. Designed to serve as both the home for Coinbase’s onchain products and an open ecosystem for builders everywhere, Base aims to create an accessible, scalable foundation for the next generation of onchain applications and communities.
SwissBorg has stated that its Meta-Exchange will be upgraded significantly so that customers will be able to access native USDC and ETH within the Base network. The update will represent another move towards the goal of SwissBorg of simplifying the use of crypto, as well as transforming traditional finance and integrating it into onchain ecosystems. The platform encourages native assets as opposed to wrapped versions of the same, thus improving the security and efficiency of users who visit Base.
🟦 You can now access native $USDC and $ETH directly in the Meta-Exchange.
SwissBorg isn’t just the one-tap gateway to an expanding Marketplace of @Base tokens.
We’re the seamless bridge from 15 fiat currencies, Apple Pay, or Google Pay straight to Base, ready for swaps, apps,… pic.twitter.com/q4MuxEnOMN
— SwissBorg (@swissborg) January 16, 2026 Such an integration makes SwissBorg a simple access point to users who want exposure to Base-based applications, tokens, and decentralized services without having to play a full game on elaborate bridges and a variety of platforms.
At the heart of the SwissBorg product offering is the Meta-Exchange, which pools centralized and decentralized liquidity in a single application. Since Base now supports both native USDC and ETH, users now have direct access to one of the most rapidly expanding Layer 2 ecosystems on Ethereum.
The shift will facilitate smooth exchanges between centralized exchange liquidity and opportunities of decentralized finance with a single turn of the tap. SwissBorg stresses that the absence of this nuisance does not contradict its overarching objective of ensuring sophisticated crypto tools for both inexperienced and seasoned users.
A Direct Bridge From Fiat to Base Among the best aspects of this update is the increased fiat onramp features available to SwissBorg. The Base ecosystem supports 15 fiat currencies that users can transfer money to using the well-recognized payment systems like Apple Pay and Google Pay. This erases the conventional process with multiple steps that can discourage people to go window shopping through onchain applications.
Simplify the trip between fiat and Base SwissBorg is removing the barriers to entry, increasing the adoption rates of the decentralized apps, swaps, and valuable applications of onchain to more widespread applications.
Powering the Growing Base Economy Base is still available in the Ethereum ecosystem and it has continued to draw developers and users who require scalability, reduced fees, and high uncompromised security. The support of native USDC and ETH by SwissBorg is in line with this expansion, where users have access to key assets utilized throughout the Base economy.
The Meta-Exchange by SwissBorg offers a single layer of access as Base applications proliferate through DeFi, gaming, consumer applications and other applications. Users are able to communicate with Base tokens, allocate capital effectively, and discover some new opportunities without switching between apps.
One App, One Tap Vision SwissBorg writes that the update represents a manifestation of its one app, one tap philosophy. As opposed to dividing the user experience between wallets, bridges, and exchanges, the platform will strive to make everything one smooth experience.
Being a multi-chain and cross-chain access gateway, supporting native assets, offering cross-chain access and fiat options, SwissBorg is placed at the stage of crypto adoption. The Base integration serves to support that vision as it directly links traditional finance to an onchain ecosystem that is growing.
Looking Ahead The introduction of native USDC and ETH on Base underlines the fact that SwissBorg remains interoperable and user-centered. Of course, with faster onchain and increased prominence of Layer 2 networks, platforms that help ease access may be a necessity.
The latest SwissBorg update is an indication of a more widespread direction at seamless finance, where users can easily pass between fiat, centralized exchanges, and decentralized networks all in a single interface.
AUTHOR
With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.
Users are able to choose a delay period that may last anywhere from one to ninety days, during which time they are unable to withdraw funds. Physical assaults that are based on fear and a sense of urgency are discouraged by Withdrawal Protection because it eliminates the potential of rapid rewards. Even in the event that a user is compelled to unlock their device and start a withdrawal, the application will still impose the waiting time. The prominent leading app in Europe for investing and earning cryptocurrency, SwissBorg, just made an announcement on the availability of Withdrawal Protection. This new security feature protects users against the increasing number of physical “wrench” assaults by imposing a time-lock that cannot be bypassed on all cryptocurrency withdrawals. This prevents the immediate transfer of assets out of a user’s account.
In light of the growing number of extortion attempts in the real world that include gaining unauthorized access to cryptocurrency wallets, there is a pressing need for additional protective measures on the human level. Withdrawal Protection is a strategy that was developed to confront and protect against this new and rising issue. A required, non-bypassable time-lock is applied to all cryptocurrency withdrawals when the feature is engaged. This prevents the immediate transfer of assets out of a user’s account during the withdrawal process. Users are able to choose a delay period that may last anywhere from one to ninety days, during which time they are unable to withdraw funds.
Physical assaults that are based on fear and a sense of urgency are discouraged by Withdrawal Protection because it eliminates the potential of rapid rewards. Even in the event that a user is compelled to unlock their device and start a withdrawal, the application will still impose the waiting time, which will theoretically prevent the user from having rapid access to their assets.
“Security must go beyond simply protecting accounts from hackers,” said Cyrus Fazel, Co-Founder and CEO of SwissBorg. “Crypto is reaching a point of widespread adoption, so it’s equally important to protect people in real-world situations. Withdrawal Protection is designed to give users time, control, and peace of mind in circumstances when digital safeguards alone may not be sufficient.”
The function is intended to be a “set and forget” safety protection once it is activated. After being activated in the security settings of the application, the delay that was determined will apply to all cryptocurrency withdrawals. There is no way to circumvent the wait, not even by SwissBorg support, which guarantees that the feature will continue to serve as an advantageous deterrent. At any moment, users have the ability to remove the Withdrawal Protection feature; nevertheless, the same wait period will apply until withdrawals are returned to immediately accessible status.
Within the SwissBorg app, trading and asset management are not impacted by the Withdrawal Protection feature. As usual, users are able to continue exchanging assets, managing portfolios, and making use of internal services. However, cryptocurrency withdrawals made outside of the SwissBorg ecosystem will continue to be time constrained. Also unaffected are internal transfers such as Smart Send, which necessitates the recipient’s Know Your Customer (KYC) documents.
SwissBorg has spent years developing a solid digital security architecture, which includes MPC keyless technology and visible Proof of Liabilities. As a result, the app is now considered to be one of the most secure places for the management of crypto assets. The implementation of Withdrawal Protection is a supplementary measure to SwissBorg’s more comprehensive “defense in depth” security approach. This strategy incorporates MPC keyless technology, Proof of Liabilities, and now a specific precaution against physical coercion.
It is possible to enable Withdrawal Protection by going to the Security section of a user’s profile, which is accessible in the most recent version of the SwissBorg app.
SwissBorg is the most prominent cryptocurrency wealth management platform that is driven by the community. It was developed in Switzerland and is licensed in the European Union. SwissBorg is not only dedicated to trust and transparency, but it is also on a mission to democratize the future of finance in order to make it possible for everyone to access financial independence. At the heart of it all is the revolutionary Meta-Exchange, which establishes a seamless connection to a number of different centralized and decentralised exchanges in order to provide consumers with the greatest possible opportunities for liquidity and pricing. In addition to trading, SwissBorg provides customers with tailored yield strategies via its DeFi platform. Additionally, the Alpha Pre-Sales platform gives users the ability to access early Web3 prospects. The Swissborg token, known as BORG, is at the center of the company’s ecosystem and offers its holders a wide range of financial and other advantages.
A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.
SwissBorg, a digital asset investment platform with over $1 billion in assets under management, has obtained approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation from the French Autorité des Marchés Financiers (AMF), the firm announced Friday.
The authorisation permits the platform to offer multiple crypto-asset services, including custody, administration, order execution, transfers, portfolio management, and crypto-asset advisory services.
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SwissBorg CEO Cyrus Fazel described the milestone as a defining moment for the company and the European crypto ecosystem, saying regulatory alignment is essential for building trust and enabling long-term innovation.
“At SwissBorg, we have always believed that embracing regulation is the only true path to mass adoption and long-term trust,” said Fazel. “Securing our MiCA approval is a defining moment for our community and the broader European crypto-asset ecosystem. It empowers us to innovate with legal certainty while offering our users the highest standard of protection.”
In the coming months, SwissBorg will migrate its European operations from its existing entity in Estonia to the newly authorised CASP entity in France.
The transition will occur gradually, and users will be informed of the process as it progresses.
SwissBorg has grown rapidly since launching its crypto app in 2021. The company completed a Series A community funding round in 2023, raising $23 million from 16,660 investors.
The company has a history of community-focused initiatives, including a successful 2017 ICO that raised $52 million and a 2018 blockchain referendum allowing users to vote on product development priorities. SwissBorg has also received industry recognition through its participation in the Venture Leaders Fintech programme and awards within the Swiss startup ecosystem.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
With the intention of establishing its European operations under MiCA, SwissBorg sought approval in a country that is well-known for having high regulatory criteria. It is a proof of SwissBorg’s solid internal controls, risk management, and dedication to the protection of user assets that the French authority has granted approval to SwissBorg. Following the completion of the migration, users throughout Europe will be able to take full use of the protections and precautions that are provided by MiCA. SwissBorg has been able to effectively get approval in accordance with the European Markets in Crypto-Assets (MiCA) regulations. This accreditation, which was granted by the French Autorité des Marchés Financiers (AMF), reinforces SwissBorg’s continuous commitment to offering crypto-asset wealth management that is safe, transparent, and completely compliance with all applicable governmental regulations.
This grants SwissBorg the authority to provide a wide range of services related to crypto-assets, such as custody and administration, order execution, transfer and putting, portfolio management, and the provision of advise on crypto-assets products and services. The authorization that was given by the AMF is quite all-encompassing, and the breadth of permission guarantees that SwissBorg will be able to continue to provide its present services while also extending its platform in a way that is compliant with the law.
“At SwissBorg, we have always believed that embracing regulation is the only true path to mass adoption and long-term trust,” said Cyrus Fazel, CEO and Co-Founder of SwissBorg. “Securing our MiCA approval is a defining moment for our community and the broader European crypto-asset ecosystem. It empowers us to innovate with legal certainty while offering our users the highest standard of protection.”
With the intention of establishing its European operations under MiCA, SwissBorg sought approval in a country that is well-known for having high regulatory criteria. The AMF of France is widely acknowledged as being among the most vigilant and stringent financial regulators in Europe. It is a continuous advocate for strong investor protection, and it has previously collaborated with market regulators in Austria and Italy to advocate for a more stringent framework for the regulation of crypto-assets. It is a proof of SwissBorg’s solid internal controls, risk management, and dedication to the protection of user assets that the French authority has granted approval to SwissBorg.
Justine Lamberger, Head of Legal at SwissBorg, added:
“Securing our MiCA approval through the AMF is no small feat; it is a testament to the uncompromising standards we set for ourselves. The AMF is rightfully recognised as one of the most demanding regulators in Europe, and successfully going through their rigorous assessment process ensures our users can have the utmost confidence in how their assets are protected. MiCA is propelling SwissBorg into a new era of institutional-grade crypto brokerage.”
Mr. Fazel also stated:
“I want to extend my deepest gratitude to the Autorité des Marchés Financiers (AMF) for their rigorous and constructive engagement throughout this process. Above all, I want to congratulate our incredible team. Their relentless hard work, expertise, and dedication have turned this vision into a reality.”
Over the course of the next several months, SwissBorg will arrange for the transfer of its European user activities from the operational company that is now located in Estonia to the new CASP-authorized organization that is located in France. This shift will become completely effective as soon as all of the relevant stages in the operational process have been finished. The migration procedure will be detailed in a specific letter that will be sent to existing users as the formal launch draws closer. Existing users do not need to take any action at this time. Following the completion of the migration, users throughout Europe will be able to take full use of the protections and precautions that are provided by MiCA.
SwissBorg is developing its unique wealth management services with legal certainty, and it is doing it while operating a fully authorized organization in one of the most tough regulatory environments in Europe.
SwissBorg is the most prominent cryptocurrency wealth management platform that is driven by the community. It was established in Switzerland and is managed by a licensed organization established in the European Union. SwissBorg is not only dedicated to trust and transparency, but it is also on a mission to democratize the future of finance in order to make it possible for everyone to access financial independence. At the heart of it all is the revolutionary Meta-Exchange, which establishes a seamless connection to a number of different centralized and decentralised exchanges in order to provide consumers with the greatest possible opportunities for liquidity and pricing. In addition to trading, SwissBorg provides customers with tailored yield strategies via DeFi. Additionally, the Alpha Pre-Sales gives users the ability to access early Web3 prospects. The BORG token, which is used by SwissBorg, is located at the core of their ecosystem and offers its holders a wide range of advantages.
A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.
There’s a particular kind of crypto security threat that no amount of two-factor authentication can solve. Someone shows up at your door with a wrench, or a gun, and politely asks you to transfer your Bitcoin. Right now. All of it.
SwissBorg is betting that a simple delay mechanism can defuse that scenario entirely. The European crypto platform launched its Withdrawal Protection feature on February 10, 2026, introducing a non-bypassable time-lock on crypto asset transfers that ranges from 24 hours to 90 days.
How the feature works The logic is elegantly straightforward. If you can’t move your crypto instantly, there’s no point in someone forcing you to try. Withdrawal Protection imposes a platform-enforced delay on all outgoing transfers, and here’s the critical part: it cannot be overridden under duress. Not by the user, not by customer support, not by the attacker standing behind you.
Users can activate the feature by navigating to Profile, then Security in the latest version of the SwissBorg app. From there, it’s a simple toggle. You pick your preferred delay window, anywhere from one day to three months, and the system locks it in.
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The feature is designed to work alongside existing security measures like biometric authentication and multi-factor verification. But where those tools protect against digital intrusions, Withdrawal Protection addresses something those measures were never built for: physical coercion.
SwissBorg CEO Cyrus Fazel framed the update as a necessary evolution in how crypto platforms think about security. The threat of physical extortion targeting crypto holders is real and growing, and Fazel positioned Withdrawal Protection as a “human-level defense” against it.
The wrench attack problem In crypto circles, the scenario is known as a “wrench attack” or sometimes a “$5 wrench attack.” The name comes from an old XKCD comic strip that made a simple observation: it doesn’t matter how sophisticated your encryption is if someone can just hit you with a wrench until you hand over your private keys.
Traditional banks have built-in friction. Wire transfers take time. Large cash withdrawals require advance notice. But crypto wallets can be drained in seconds, which makes them uniquely vulnerable to coercion scenarios. The entire value proposition of instant, permissionless transfers becomes a liability when someone has a weapon pointed at you.
SwissBorg’s approach essentially reintroduces that friction, but makes it voluntary and user-controlled. You’re choosing to give up instant access to your own funds in exchange for a guarantee that nobody else can force you to move them quickly either.
What this means for investors For high-net-worth crypto holders, particularly those in Europe where SwissBorg operates as a regulated wealth management tool, this kind of feature could meaningfully influence platform choice.
The tradeoff is real, though. A 90-day withdrawal lock means you can’t respond to market crashes, sudden liquidity needs, or time-sensitive opportunities without planning well ahead. Even a 24-hour delay could cost you during a volatile trading session. Users will need to calibrate their delay window against their actual trading habits and risk tolerance.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SwissBorg’s governance body, known as the Guardians, has put forward a proposal to simplify how the community decides what happens with BORG tokens accumulated through platform buybacks. The change would reduce voting options from four to three, with the headline addition being a permanent DAO Fund designed to provide steady, ongoing support to the broader BORG ecosystem.
A community vote on the proposal closed on June 14, 2026. Participation required users to lock or stake their BORG tokens within the app to earn voting power, a mechanism that ties governance influence directly to skin in the game.
What’s actually changing Every quarter, SwissBorg’s Guardians Pool, which gets funded through buybacks from platform profits, distributes BORG tokens based on a community vote. Token holders currently choose between four allocation buckets: Burn, Safety Net, Governance Rewards, and Special Initiative.
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The proposed system trims that to three options. The most notable shift is the introduction of a permanent DAO Fund as one of those three choices, replacing the more ad hoc nature of some previous categories.
The “Special Initiative” category, which previously allowed for one-off community proposals and dynamic decision-making, appears to be the option making way for this more permanent funding vehicle.
Why a permanent DAO Fund matters Quarterly allocation votes are inherently reactive. Community sentiment shifts, market conditions change, and the result is that ecosystem funding can look very different from one quarter to the next. A permanent DAO Fund creates a baseline, ensuring that some portion of buyback-derived tokens is consistently earmarked for ecosystem development.
It’s also worth noting that BORG itself is the product of an earlier governance evolution. The token was previously known as CHSB before transitioning to its current form.
What this means for BORG holders The staking requirement for voting power creates a natural incentive loop. If you want a say in how tokens are allocated, you need to lock up your BORG. That reduces circulating supply during governance periods and ties holders more tightly to the ecosystem.
Simplifying from four options to three reduces cognitive load on voters. Fewer choices, clearer stakes. Whether the permanent DAO Fund actually delivers better outcomes for the BORG ecosystem will depend entirely on how the funds get deployed once they’re allocated.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SwissBorg has finished migrating its European user base to a fully MiCA-authorized entity, completing the transition on June 22, 2026. That’s just eight days before the July 1 deadline when non-compliant crypto platforms get effectively locked out of serving customers across the European Economic Area.
The move shifted users from SwissBorg’s former Estonian entity, SwissBorg Solutions OÜ, to its French subsidiary, BlockNodes SAS. BlockNodes received its MiCA authorization, license number A2026-011, from France’s financial markets authority (AMF) back on March 5, 2026. The company says balances, portfolios, and transaction histories carried over untouched, with no action required from users.
What MiCA compliance actually means here MiCA, the Markets in Crypto-Assets regulation, covers everything from custody standards to transparency requirements to how platforms segregate user assets from their own. July 1, 2026, marks the hard cutoff, after which any crypto service provider without proper authorization cannot operate in the EEA.
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For users, the practical implications center on enhanced protections. MiCA-compliant platforms must adhere to strict rules around how they hold customer funds, what they disclose about their operations, and how they handle potential conflicts of interest. Customer assets are required to be kept separate from the company’s money, and regulatory mechanisms are in place if something goes wrong.
New incentives to sweeten the deal The refreshed referral system ties rewards to SwissBorg’s existing Loyalty Rank structure. Users at the Elite tier can earn up to 2x rewards for bringing new members onto the platform.
The updated loyalty cashback structure offers up to 99% cashback on exchange fees for users at the highest loyalty tiers.
The competitive landscape after July 1 After July 1, any platform that hasn’t secured MiCA authorization will be barred from serving EEA customers. SwissBorg is among a limited group of platforms with full MiCA authorization in Europe.
The current lack of any noticeable price impact on SwissBorg’s BORG token following the migration suggests the market had already priced in compliance.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Grand Cayman, Cayman Islands, June 23rd, 2026, Chainwire
Sui aims to transition more of Bitcoin’s $1.2T market cap into verifiable, productive onchain products.
Hashi, Sui’s native bitcoin finance primitive, gains more institutional support ahead of the scheduled launch of its global testnet this July.
Sui, where money moves as freely as messages, announced today that Cumberland, Fluid, and SwissBorg have joined the Hashi ecosystem, Sui’s native bitcoin finance primitive, weeks ahead of its scheduled global testnet launch this July. The expanding coalition addresses a critical bottleneck in crypto: solving the persistent capital inefficiency by unlocking over a trillion dollars of immobile BTC into DeFi safely.
Previous market cycles demonstrated the systemic dangers of relying on opaque, centralized credit intermediaries such as Celsius, Voyager, and Genesis to generate utility from dormant assets. Hashi replaces centralized balance-sheet trust with verifiable smart contract logic.
But with a strict separation for safety by design, Bitcoin remains securely on the native Bitcoin blockchain. Sui smart contracts handle the cryptographic and programmatic rights to enable its use as financial collateral.
“Hashi was built to unlock the productive use of Bitcoin at a scale the industry hasn’t seen before,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “We believe Bitcoin will become one of the largest sources of collateral in finance as the world moves onchain, and Hashi provides the foundation to make that possible on Sui.”
Built for Institutional Bitcoin Finance
Hashi is a foundational primitive setting a new standard for how builders can create bespoke, Bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable onchain. In just a few weeks’ time, institutions, custodians, wallet providers, and developers can begin freely testing the infrastructure that will support Bitcoin-backed lending, borrowing, and credit origination on Sui.
Expanded Institutional Support
Three new powerhouses join the growing Hashi ecosystem, broadening support for institutional liquidity providers, market makers, and digital asset platforms:
Cumberland: One of the digital asset industry’s largest institutional market makers, Cumberland joins the Hashi ecosystem to evaluate the protocol’s structural frameworks and prepare for eventual onchain liquidity provisioning. SwissBorg: A European wealth management app with over one million users, is exploring opportunities to connect its network of European high-net-worth Bitcoin holders and liquidity providers to Hashi, creating new pathways for Bitcoin-backed borrowing and lending. Fluid: A major DeFi lending protocol with a strong record of efficient, safe trades, is now building in preparation for mainnet institutional services. Fluid’s participation would provide institutional-grade lending markets and deepen access to Bitcoin-backed credit on Sui. These new builders join an industry-leading group of infrastructure providers, custodians, and DeFi protocols already working together to build a native Bitcoin financial ecosystem on Sui.
“Bitcoin is the world’s most liquid digital asset, but without native utility, it remains an off-chain asset,” said Paul Kremsky, Global Head of Business Development at Cumberland. “Hashi is exciting because it introduces a transparent, institutional-grade framework for BTC-backed credit that will replace synthetic workarounds with a product we are excited to use ourselves.”
“Our community has consistently sought native ways to lend and borrow against their Bitcoin,” said Cyrus Fazel, Founder & CEO at SwissBorg. “We’re thrilled to see Hashi delivering innovative solutions that make this a reality.”
“The next phase of the industry’s growth will come from bringing larger pools of capital onchain through infrastructure institutions can actually trust,” said Samyak Jain, Co-Founder & CEO at Fluid. “Hashi gets this right: Bitcoin stays on its native chain while verifiable contracts make it productive as collateral. Fluid’s lending infrastructure is built to turn that into deep, capital-efficient Bitcoin-backed credit markets on Sui.”
These additions expand the growing consensus of many partners announced earlier this year that Sui is where Bitcoin finance will take flight, thanks to Hashi:
Custody & Wallet Access
BitGo: Institutional custody clients. Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet and infrastructure providers. Cubist: Cross-chain collateral infrastructure and transfer engine. Ledger: Retail/institutional self-custody. SwissBorg: UHNW European retail/institutional asset management and wallet interface. Lending, Trading & Liquidity Providers
Bullish: Institutional digital asset platform supplying liquidity. Cumberland: Leading institutional crypto market maker and liquidity provider. Erebor: OCC-chartered bank providing liquidity. FalconX: Institutional prime brokerage supplying liquidity. DeFi & Lending Applications
AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enabling retail lending and borrowing on day one. Fluid: Connecting lending, borrowing, liquidity and more financial products into a capital-efficient system. Navi: One of Sui’s largest and longest running DeFi protocols slated for Hashi lending. Vaults & Asset Management
Concrete by Blueprint Finance: Yield-infrastructure vault platform. Inveniam Capital: Real-World Asset (RWA) yield strategies. Wave Digital Assets LLC: SEC-registered investment adviser working with industry partners to facilitate the issuance of Bitcoin-collateralized bonds. Index Oracle, Insurance & Security Auditing
CF Benchmarks: Crypto index provider distributing pricing data via oracles. Soter Insure: Native, Bitcoin-denominated institutional insurance. Asymptotic, Certora, OtterSec: Smart contract security and formal verification auditors. The activation of the global testnet this July represents the ultimate rehearsal for fully changing Bitcoin Finance. This sandbox environment is designed for institutional engineers, Sui protocols and developers, and custody partners to test integration parameters, stress-test the code under simulated market volatility, and verify cryptographic integrity ahead of mainnet release.
Technical documentation and testnet access configurations will be hosted at https://www.sui.io/hashi.
About Sui
Sui, where money moves as freely as messages, is a next-generation Layer 1 blockchain built for scalable finance and global payments. Founded by the core team behind Meta’s stablecoin initiative and powered by an object-centric model, Sui makes assets, permissions, and user data programmable and ownable. Sui’s primitives offer builders everything they need to create high-performance payments and financial applications, including instant agentic payments. Users can learn more at sui.io.
Grand Cayman, Cayman Islands, June 23rd, 2026, Chainwire
Sui aims to transition more of Bitcoin’s $1.2T market cap into verifiable, productive onchain products.
Hashi, Sui’s native bitcoin finance primitive, gains more institutional support ahead of the scheduled launch of its global testnet this July.
Sui, where money moves as freely as messages, announced today that Cumberland, Fluid, and SwissBorg have joined the Hashi ecosystem, Sui’s native bitcoin finance primitive, weeks ahead of its scheduled global testnet launch this July. The expanding coalition addresses a critical bottleneck in crypto: solving the persistent capital inefficiency by unlocking over a trillion dollars of immobile BTC into DeFi safely.
Previous market cycles demonstrated the systemic dangers of relying on opaque, centralized credit intermediaries such as Celsius, Voyager, and Genesis to generate utility from dormant assets. Hashi replaces centralized balance-sheet trust with verifiable smart contract logic.
But with a strict separation for safety by design, Bitcoin remains securely on the native Bitcoin blockchain. Sui smart contracts handle the cryptographic and programmatic rights to enable its use as financial collateral.
“Hashi was built to unlock the productive use of Bitcoin at a scale the industry hasn't seen before,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “We believe Bitcoin will become one of the largest sources of collateral in finance as the world moves onchain, and Hashi provides the foundation to make that possible on Sui.”
Built for Institutional Bitcoin Finance
Hashi is a foundational primitive setting a new standard for how builders can create bespoke, Bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable onchain. In just a few weeks’ time, institutions, custodians, wallet providers, and developers can begin freely testing the infrastructure that will support Bitcoin-backed lending, borrowing, and credit origination on Sui.
Expanded Institutional Support
Three new powerhouses join the growing Hashi ecosystem, broadening support for institutional liquidity providers, market makers, and digital asset platforms:
Cumberland: One of the digital asset industry's largest institutional market makers, Cumberland joins the Hashi ecosystem to evaluate the protocol’s structural frameworks and prepare for eventual onchain liquidity provisioning. SwissBorg: A European wealth management app with over one million users, is exploring opportunities to connect its network of European high-net-worth Bitcoin holders and liquidity providers to Hashi, creating new pathways for Bitcoin-backed borrowing and lending. Fluid: A major DeFi lending protocol with a strong record of efficient, safe trades, is now building in preparation for mainnet institutional services. Fluid's participation would provide institutional-grade lending markets and deepen access to Bitcoin-backed credit on Sui. These new builders join an industry-leading group of infrastructure providers, custodians, and DeFi protocols already working together to build a native Bitcoin financial ecosystem on Sui.
“Bitcoin is the world’s most liquid digital asset, but without native utility, it remains an off-chain asset,” said Paul Kremsky, Global Head of Business Development at Cumberland. “Hashi is exciting because it introduces a transparent, institutional-grade framework for BTC-backed credit that will replace synthetic workarounds with a product we are excited to use ourselves.”
“Our community has consistently sought native ways to lend and borrow against their Bitcoin,” said Cyrus Fazel, Founder & CEO at SwissBorg. “We’re thrilled to see Hashi delivering innovative solutions that make this a reality.”
“The next phase of the industry's growth will come from bringing larger pools of capital onchain through infrastructure institutions can actually trust," said Samyak Jain, Co-Founder & CEO at Fluid. “Hashi gets this right: Bitcoin stays on its native chain while verifiable contracts make it productive as collateral. Fluid's lending infrastructure is built to turn that into deep, capital-efficient Bitcoin-backed credit markets on Sui.”
These additions expand the growing consensus of many partners announced earlier this year that Sui is where Bitcoin finance will take flight, thanks to Hashi:
Custody & Wallet Access
BitGo: Institutional custody clients. Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet and infrastructure providers. Cubist: Cross-chain collateral infrastructure and transfer engine. Ledger: Retail/institutional self-custody. SwissBorg: UHNW European retail/institutional asset management and wallet interface. Lending, Trading & Liquidity Providers
Bullish: Institutional digital asset platform supplying liquidity. Cumberland: Leading institutional crypto market maker and liquidity provider. Erebor: OCC-chartered bank providing liquidity. FalconX: Institutional prime brokerage supplying liquidity. DeFi & Lending Applications
AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enabling retail lending and borrowing on day one. Fluid: Connecting lending, borrowing, liquidity and more financial products into a capital-efficient system. Navi: One of Sui’s largest and longest running DeFi protocols slated for Hashi lending. Vaults & Asset Management
Concrete by Blueprint Finance: Yield-infrastructure vault platform. Inveniam Capital: Real-World Asset (RWA) yield strategies. Wave Digital Assets LLC: SEC-registered investment adviser working with industry partners to facilitate the issuance of Bitcoin-collateralized bonds. Index Oracle, Insurance & Security Auditing
CF Benchmarks: Crypto index provider distributing pricing data via oracles. Soter Insure: Native, Bitcoin-denominated institutional insurance. Asymptotic, Certora, OtterSec: Smart contract security and formal verification auditors. The activation of the global testnet this July represents the ultimate rehearsal for fully changing Bitcoin Finance. This sandbox environment is designed for institutional engineers, Sui protocols and developers, and custody partners to test integration parameters, stress-test the code under simulated market volatility, and verify cryptographic integrity ahead of mainnet release.
Technical documentation and testnet access configurations will be hosted at https://www.sui.io/hashi.
About Sui
Sui, where money moves as freely as messages, is a next-generation Layer 1 blockchain built for scalable finance and global payments. Founded by the core team behind Meta’s stablecoin initiative and powered by an object-centric model, Sui makes assets, permissions, and user data programmable and ownable. Sui’s primitives offer builders everything they need to create high-performance payments and financial applications, including instant agentic payments. Users can learn more at sui.io.
Sui aims to transition more of Bitcoin’s $1.2T market cap into verifiable, productive onchain products.
Main TakeawaysHashi is scheduled to launch its global testnet this July. This critical operational checkpoint allows builders to prep and battle-test new financial services before full mainnet deployment.Liquidity giant Cumberland, digital asset platform SwissBorg, and decentralized lending and DEX protocol Fluid have joined the ecosystem, alongside 20+ marquee partners unveiled earlier this year, including BitGo, Blockdaemon, Bullish, Erebor Bank, FalconX, and Ledger.Marquee expansions announced as Hashi takes aim at more than $1 trillion of dormant Bitcoin capital, creating the foundation for Bitcoin-backed financial markets at institutional scale.Today, Cumberland, Fluid, and SwissBorg have joined the Hashi ecosystem, Sui’s native bitcoin finance primitive, weeks ahead of its scheduled global testnet launch this July. The expanding coalition addresses a critical bottleneck in crypto: solving the persistent capital inefficiency by unlocking over a trillion dollars of immobile BTC into DeFi safely.
Previous market cycles demonstrated the systemic dangers of relying on opaque, centralized credit intermediaries such as Celsius, Voyager, and Genesis to generate utility from dormant assets. Hashi replaces centralized balance-sheet trust with verifiable smart contract logic.
But with a strict separation for safety by design, Bitcoin remains securely on the native Bitcoin blockchain. Sui smart contracts handle the cryptographic and programmatic rights to enable its use as financial collateral. These contracts undergo comprehensive formal verification, mathematically proving they behave as specified.
“Hashi was built to unlock the productive use of Bitcoin at a scale the industry hasn't seen before,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “We believe Bitcoin will become one of the largest sources of collateral in finance as the world moves onchain, and Hashi provides the foundation to make that possible on Sui.”
Built for Institutional Bitcoin FinanceHashi is a foundational primitive setting a new standard for how builders can create bespoke, Bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable onchain. In just a few weeks’ time, institutions, custodians, wallet providers, and developers can begin freely testing the infrastructure that will support Bitcoin-backed lending, borrowing, and credit origination on Sui.
Expanded Institutional SupportThree new powerhouses join the growing Hashi ecosystem, broadening support for institutional liquidity providers, market makers, and digital asset platforms:
Cumberland: One of the digital asset industry's largest institutional market makers, Cumberland joins the Hashi ecosystem to evaluate the protocol’s structural frameworks and prepare for eventual onchain liquidity provisioning.SwissBorg: A European wealth management app with over one million users, is exploring opportunities to connect its network of European high-net-worth Bitcoin holders and liquidity providers to Hashi, creating new pathways for Bitcoin-backed borrowing and lending.Fluid: A major DeFi lending protocol with a strong record of efficient, safe trades, is now building in preparation for mainnet institutional services. Fluid's participation would provide institutional-grade lending markets and deepen access to Bitcoin-backed credit on Sui.These new builders join an industry-leading group of infrastructure providers, custodians, and DeFi protocols already working together to build a native Bitcoin financial ecosystem on Sui.
“Bitcoin is the world’s most liquid digital asset, but without native utility, it remains an off-chain asset,” said Paul Kremsky, Global Head of Business Development at Cumberland. “Hashi is exciting because it introduces a transparent, institutional-grade framework for BTC-backed credit that will replace synthetic workarounds with a product we are excited to use ourselves.”
“Our community has consistently sought native ways to lend and borrow against their Bitcoin,” said Cyrus Fazel, Founder & CEO at SwissBorg. “We’re thrilled to see Hashi delivering innovative solutions that make this a reality.”
“The next phase of the industry's growth will come from bringing larger pools of capital onchain through infrastructure institutions can actually trust," said Samyak Jain, Co-Founder & CEO at Fluid. “Hashi gets this right: Bitcoin stays on its native chain while verifiable contracts make it productive as collateral. Fluid's lending infrastructure is built to turn that into deep, capital-efficient Bitcoin-backed credit markets on Sui.”
These additions expand the growing consensus of many partners announced earlier this year that Sui is where Bitcoin finance will take flight, thanks to Hashi:
Custody & Wallet Access
BitGo: Institutional custody clients.Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet and infrastructure providers.Cubist: Cross-chain collateral infrastructure and transfer engine.Ledger: Retail/institutional self-custody.SwissBorg: UHNW European retail/institutional asset management and wallet interface.Lending, Trading & Liquidity Providers
Bullish: Institutional digital asset platform supplying liquidity.Cumberland: Leading institutional crypto market maker and liquidity provider.Erebor: OCC-chartered bank providing liquidity.FalconX: Institutional prime brokerage supplying liquidity.DeFi & Lending Applications
AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enabling retail lending and borrowing on day one.Fluid: Connecting lending, borrowing, liquidity and more financial products into a capital-efficient system. Navi: One of Sui’s largest and longest running DeFi protocols slated for Hashi lending. Vaults & Asset Management
Concrete by Blueprint Finance: Yield-infrastructure vault platform.Inveniam Capital: Real-World Asset (RWA) yield strategies.Wave Digital Assets LLC: SEC-registered investment adviser working with industry partners to facilitate the issuance of Bitcoin-collateralized bonds.Index Oracle, Insurance & Security Auditing
CF Benchmarks: Crypto index provider distributing pricing data via oracles.Soter Insure: Native, Bitcoin-denominated institutional insurance.Asymptotic, Certora, OtterSec: Smart contract security and formal verification auditors.The activation of the global testnet this July represents the ultimate rehearsal for fully changing Bitcoin Finance. This sandbox environment is designed for institutional engineers, Sui protocols and developers, and custody partners to test integration parameters, stress-test the code under simulated market volatility, and verify cryptographic integrity ahead of mainnet release.
Technical documentation and testnet access configurations will be hosted at https://www.sui.io/hashi.
Sui aims to transition more of Bitcoin’s $1.2T market cap into verifiable, productive onchain products.
Hashi, Sui’s native bitcoin finance primitive, gains more institutional support ahead of the scheduled launch of its global testnet this July.
Sui, where money moves as freely as messages, announced today that Cumberland, Fluid, and SwissBorg have joined the Hashi ecosystem, Sui’s native bitcoin finance primitive, weeks ahead of its scheduled global testnet launch this July. The expanding coalition addresses a critical bottleneck in crypto: solving the persistent capital inefficiency by unlocking over a trillion dollars of immobile BTC into DeFi safely.
Previous market cycles demonstrated the systemic dangers of relying on opaque, centralized credit intermediaries such as Celsius, Voyager, and Genesis to generate utility from dormant assets. Hashi replaces centralized balance-sheet trust with verifiable smart contract logic.
But with a strict separation for safety by design, Bitcoin remains securely on the native Bitcoin blockchain. Sui smart contracts handle the cryptographic and programmatic rights to enable its use as financial collateral.
“Hashi was built to unlock the productive use of Bitcoin at a scale the industry hasn’t seen before,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “We believe Bitcoin will become one of the largest sources of collateral in finance as the world moves onchain, and Hashi provides the foundation to make that possible on Sui.”
Built for Institutional Bitcoin Finance
Hashi is a foundational primitive setting a new standard for how builders can create bespoke, Bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable onchain. In just a few weeks’ time, institutions, custodians, wallet providers, and developers can begin freely testing the infrastructure that will support Bitcoin-backed lending, borrowing, and credit origination on Sui.
Expanded Institutional Support
Three new powerhouses join the growing Hashi ecosystem, broadening support for institutional liquidity providers, market makers, and digital asset platforms:
Cumberland: One of the digital asset industry’s largest institutional market makers, Cumberland joins the Hashi ecosystem to evaluate the protocol’s structural frameworks and prepare for eventual onchain liquidity provisioning. SwissBorg: A European wealth management app with over one million users, is exploring opportunities to connect its network of European high-net-worth Bitcoin holders and liquidity providers to Hashi, creating new pathways for Bitcoin-backed borrowing and lending. Fluid: A major DeFi lending protocol with a strong record of efficient, safe trades, is now building in preparation for mainnet institutional services. Fluid’s participation would provide institutional-grade lending markets and deepen access to Bitcoin-backed credit on Sui. These new builders join an industry-leading group of infrastructure providers, custodians, and DeFi protocols already working together to build a native Bitcoin financial ecosystem on Sui.
“Bitcoin is the world’s most liquid digital asset, but without native utility, it remains an off-chain asset,” said Paul Kremsky, Global Head of Business Development at Cumberland. “Hashi is exciting because it introduces a transparent, institutional-grade framework for BTC-backed credit that will replace synthetic workarounds with a product we are excited to use ourselves.”“Our community has consistently sought native ways to lend and borrow against their Bitcoin,” said Cyrus Fazel, Founder & CEO at SwissBorg. “We’re thrilled to see Hashi delivering innovative solutions that make this a reality.”“The next phase of the industry’s growth will come from bringing larger pools of capital onchain through infrastructure institutions can actually trust,” said Samyak Jain, Co-Founder & CEO at Fluid. “Hashi gets this right: Bitcoin stays on its native chain while verifiable contracts make it productive as collateral. Fluid’s lending infrastructure is built to turn that into deep, capital-efficient Bitcoin-backed credit markets on Sui.”
These additions expand the growing consensus of many partners announced earlier this year that Sui is where Bitcoin finance will take flight, thanks to Hashi:
Custody & Wallet Access
BitGo: Institutional custody clients. Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet and infrastructure providers. Cubist: Cross-chain collateral infrastructure and transfer engine. Ledger: Retail/institutional self-custody. SwissBorg: UHNW European retail/institutional asset management and wallet interface. Lending, Trading & Liquidity Providers
Bullish: Institutional digital asset platform supplying liquidity. Cumberland: Leading institutional crypto market maker and liquidity provider. Erebor: OCC-chartered bank providing liquidity. FalconX: Institutional prime brokerage supplying liquidity. DeFi & Lending Applications
AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enabling retail lending and borrowing on day one. Fluid: Connecting lending, borrowing, liquidity and more financial products into a capital-efficient system. Navi: One of Sui’s largest and longest running DeFi protocols slated for Hashi lending. Vaults & Asset Management
Concrete by Blueprint Finance: Yield-infrastructure vault platform. Inveniam Capital: Real-World Asset (RWA) yield strategies. Wave Digital Assets LLC: SEC-registered investment adviser working with industry partners to facilitate the issuance of Bitcoin-collateralized bonds. Index Oracle, Insurance & Security Auditing
CF Benchmarks: Crypto index provider distributing pricing data via oracles. Soter Insure: Native, Bitcoin-denominated institutional insurance. Asymptotic, Certora, OtterSec: Smart contract security and formal verification auditors. The activation of the global testnet this July represents the ultimate rehearsal for fully changing Bitcoin Finance. This sandbox environment is designed for institutional engineers, Sui protocols and developers, and custody partners to test integration parameters, stress-test the code under simulated market volatility, and verify cryptographic integrity ahead of mainnet release.
Technical documentation and testnet access configurations will be hosted at https://www.sui.io/hashi.
About Sui
Sui, where money moves as freely as messages, is a next-generation Layer 1 blockchain built for scalable finance and global payments. Founded by the core team behind Meta’s stablecoin initiative and powered by an object-centric model, Sui makes assets, permissions, and user data programmable and ownable. Sui’s primitives offer builders everything they need to create high-performance payments and financial applications, including instant agentic payments. Users can learn more at sui.io.
[PRESS RELEASE – Grand Cayman, Cayman Islands, June 23rd, 2026]
Sui aims to transition more of Bitcoin’s $1.2T market cap into verifiable, productive onchain products.
Hashi, Sui’s native bitcoin finance primitive, gains more institutional support ahead of the scheduled launch of its global testnet this July.
Sui, where money moves as freely as messages, announced today that Cumberland, Fluid, and SwissBorg have joined the Hashi ecosystem, Sui’s native bitcoin finance primitive, weeks ahead of its scheduled global testnet launch this July. The expanding coalition addresses a critical bottleneck in crypto: solving the persistent capital inefficiency by unlocking over a trillion dollars of immobile BTC into DeFi safely.
Previous market cycles demonstrated the systemic dangers of relying on opaque, centralized credit intermediaries such as Celsius, Voyager, and Genesis to generate utility from dormant assets. Hashi replaces centralized balance-sheet trust with verifiable smart contract logic.
But with a strict separation for safety by design, Bitcoin remains securely on the native Bitcoin blockchain. Sui smart contracts handle the cryptographic and programmatic rights to enable its use as financial collateral.
“Hashi was built to unlock the productive use of Bitcoin at a scale the industry hasn’t seen before,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “We believe Bitcoin will become one of the largest sources of collateral in finance as the world moves onchain, and Hashi provides the foundation to make that possible on Sui.”
Built for Institutional Bitcoin Finance
Hashi is a foundational primitive setting a new standard for how builders can create bespoke, Bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable onchain. In just a few weeks’ time, institutions, custodians, wallet providers, and developers can begin freely testing the infrastructure that will support Bitcoin-backed lending, borrowing, and credit origination on Sui.
Expanded Institutional Support
Three new powerhouses join the growing Hashi ecosystem, broadening support for institutional liquidity providers, market makers, and digital asset platforms:
Cumberland: One of the digital asset industry’s largest institutional market makers, Cumberland joins the Hashi ecosystem to evaluate the protocol’s structural frameworks and prepare for eventual onchain liquidity provisioning. SwissBorg: A European wealth management app with over one million users, is exploring opportunities to connect its network of European high-net-worth Bitcoin holders and liquidity providers to Hashi, creating new pathways for Bitcoin-backed borrowing and lending. Fluid: A major DeFi lending protocol with a strong record of efficient, safe trades, is now building in preparation for mainnet institutional services. Fluid’s participation would provide institutional-grade lending markets and deepen access to Bitcoin-backed credit on Sui. These new builders join an industry-leading group of infrastructure providers, custodians, and DeFi protocols already working together to build a native Bitcoin financial ecosystem on Sui.
“Bitcoin is the world’s most liquid digital asset, but without native utility, it remains an off-chain asset,” said Paul Kremsky, Global Head of Business Development at Cumberland. “Hashi is exciting because it introduces a transparent, institutional-grade framework for BTC-backed credit that will replace synthetic workarounds with a product we are excited to use ourselves.”
“Our community has consistently sought native ways to lend and borrow against their Bitcoin,” said Cyrus Fazel, Founder & CEO at SwissBorg. “We’re thrilled to see Hashi delivering innovative solutions that make this a reality.”
“The next phase of the industry’s growth will come from bringing larger pools of capital onchain through infrastructure institutions can actually trust,” said Samyak Jain, Co-Founder & CEO at Fluid. “Hashi gets this right: Bitcoin stays on its native chain while verifiable contracts make it productive as collateral. Fluid’s lending infrastructure is built to turn that into deep, capital-efficient Bitcoin-backed credit markets on Sui.”
These additions expand the growing consensus of many partners announced earlier this year that Sui is where Bitcoin finance will take flight, thanks to Hashi:
Custody & Wallet Access
BitGo: Institutional custody clients. Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet and infrastructure providers. Cubist: Cross-chain collateral infrastructure and transfer engine. Ledger: Retail/institutional self-custody. SwissBorg: UHNW European retail/institutional asset management and wallet interface. Lending, Trading & Liquidity Providers
Bullish: Institutional digital asset platform supplying liquidity. Cumberland: Leading institutional crypto market maker and liquidity provider. Erebor: OCC-chartered bank providing liquidity. FalconX: Institutional prime brokerage supplying liquidity. DeFi & Lending Applications
AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enabling retail lending and borrowing on day one. Fluid: Connecting lending, borrowing, liquidity and more financial products into a capital-efficient system. Navi: One of Sui’s largest and longest running DeFi protocols slated for Hashi lending. Vaults & Asset Management
Concrete by Blueprint Finance: Yield-infrastructure vault platform. Inveniam Capital: Real-World Asset (RWA) yield strategies. Wave Digital Assets LLC: SEC-registered investment adviser working with industry partners to facilitate the issuance of Bitcoin-collateralized bonds. Index Oracle, Insurance & Security Auditing
CF Benchmarks: Crypto index provider distributing pricing data via oracles. Soter Insure: Native, Bitcoin-denominated institutional insurance. Asymptotic, Certora, OtterSec: Smart contract security and formal verification auditors. The activation of the global testnet this July represents the ultimate rehearsal for fully changing Bitcoin Finance. This sandbox environment is designed for institutional engineers, Sui protocols and developers, and custody partners to test integration parameters, stress-test the code under simulated market volatility, and verify cryptographic integrity ahead of mainnet release.
Technical documentation and testnet access configurations will be hosted at https://www.sui.io/hashi.
About Sui
Sui, where money moves as freely as messages, is a next-generation Layer 1 blockchain built for scalable finance and global payments. Founded by the core team behind Meta’s stablecoin initiative and powered by an object-centric model, Sui makes assets, permissions, and user data programmable and ownable. Sui’s primitives offer builders everything they need to create high-performance payments and financial applications, including instant agentic payments. Users can learn more at sui.io.
