Threshold Network on Monday launched its bitcoin-backed token tBTC on the Sui blockchain, allowing users to deposit BTC on Sui and mint an ERC-20 representation that can be traded, lent or staked across the network’s decentralised-finance applications. The move could unlock more than $500 million in additional bitcoin liquidity for Sui, according to Threshold and Mysten Labs, the original contributors to the high-throughput chain. Nearly 600 BTC—worth about $65 million—have migrated to Sui since February, and bitcoin-pegged assets now make up over 10% of the platform’s $1.83 billion total value locked, data from DeFiLlama show. Adeniyi Abiodun, Mysten’s co-founder and chief product officer, said the integration "opens another door to accessible, sovereign BTCfi participation." Threshold Labs co-founder Callan Sarre added that combining threshold cryptography with Sui’s sub-second finality "creates a new standard for Bitcoin utility." tBTC currently has a market capitalisation of about $570 million with 5,265 tokens in circulation.