Threshold’s tBTC Rolls Out on Sui, Opening Access to $500 Million in BTC-Linked Liquidity.

Threshold Network Brings tBTC to Sui, Unlocking Over $500 Million in Bitcoin Liquidity

Threshold Network has launched its bitcoin-pegged token, tBTC, on the Sui blockchain, marking a significant step in expanding bitcoin-focused decentralized finance (BTCFi) within the Sui ecosystem.

tBTC, an ERC-20 token fully backed 1:1 by bitcoin, allows users to deposit BTC and mint tBTC directly on Sui. This move could inject more than $500 million worth of bitcoin liquidity into Sui, enabling users to participate in decentralized finance while keeping their bitcoin exposure intact.

“tBTC is expected to bring a massive amount of Bitcoin liquidity to Sui, creating a bridge that truly matters—not just for institutions but for everyday people who love Bitcoin,” said Adeniyi Abiodun, co-founder and chief product officer at Mysten Labs, the team behind Sui.

“This new integration opens another door to accessible, sovereign BTCFi participation,” Abiodun added.

BTCFi refers to decentralized finance applications tailored to bitcoin, aiming to extend its utility beyond merely serving as a store of value.

Since February, nearly 600 BTC—valued at over $65 million—has been bridged to Sui, with bitcoin-backed assets now representing more than 10% of the total value locked (TVL) in Sui-based DeFi platforms. As of press time, Sui’s DeFi ecosystem holds about $1.83 billion in TVL, according to DeFiLlama data.

“Bitcoin was designed to be used, not locked away,” said Callan Sarre, co-founder of Threshold Labs. “With tBTC on Sui, we’re blending threshold cryptography with a high-speed blockchain to set a new standard for Bitcoin’s utility.”

Threshold Network operates as a decentralized protocol combining advanced cryptography with blockchain infrastructure to provide secure, trust-minimized access to bitcoin in DeFi environments. At the time of writing, tBTC has a market capitalization exceeding $570 million, with a circulating supply of 5,265 tokens, according to CoinGecko.