tBTC, Threshold’s Bitcoin-Pegged Asset, Goes Live on Sui, Unlocking $500 Million Liquidity Pool.

Threshold’s tBTC Launches on Sui, Injecting $500M in Bitcoin Liquidity Into DeFi

Threshold Network has rolled out its bitcoin-backed token, tBTC, on the Sui blockchain, enabling users to mint the asset directly on the network. The move marks a major step toward expanding bitcoin-focused DeFi (BTCFi) within the Sui ecosystem.

tBTC is an ERC-20 token fully collateralized 1:1 with bitcoin. With its launch on Sui, users can now deposit BTC and mint tBTC, unlocking access to over $500 million in potential liquidity. The integration allows bitcoin holders to put their assets to work within Sui-based DeFi platforms—earning yield, trading, and participating in decentralized applications without giving up BTC exposure.

“This bridge 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 core contributors to Sui. “tBTC is expected to bring a massive amount of Bitcoin liquidity to Sui.”

Abiodun called the integration “a new door to accessible, sovereign BTCFi participation.”

BTCFi refers to decentralized financial products and services designed to extend the utility of bitcoin beyond its traditional role as a store of value. Threshold aims to lead that charge by combining secure threshold cryptography with decentralized infrastructure.

Since February, nearly 600 BTC—worth over $65 million—has been bridged to Sui. Bitcoin-backed assets now make up over 10% of the total value locked (TVL) in the ecosystem. As of press time, Sui-based DeFi protocols held roughly $1.83 billion in TVL, according to DeFiLlama.

“Bitcoin was designed to be used, not locked away,” said Callan Sarre, co-founder at Threshold Labs. “With tBTC on Sui, we’re creating a new standard for Bitcoin utility—secure, scalable, and accessible.”

Threshold Network, the decentralized infrastructure behind tBTC, blends advanced cryptography with blockchain technology to provide trust-minimized access to Bitcoin in DeFi. According to CoinGecko, tBTC currently has a market capitalization of over $570 million with a circulating supply of 5,265 tokens.