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Sui’s Hashi sets October rollout with $500M committed

Sui says Hashi will begin a phased mainnet rollout this month with more than $500 million committed, opening Bitcoin collateral to lending and credit markets.

The Tareom Editors3 min read

Sui’s Hashi sets October rollout with $500M committed

Sui announced on Oct. 8 that Hashi, its Bitcoin finance network, will start a phased mainnet rollout later this month with more than $500 million in capital commitments from launch partners. The Sui Foundation’s announcement says Hashi is designed to support Bitcoin-backed financial markets on Sui.

  • More than $500 million in commitments, according to Sui.
  • More than 20 companies in the launch coalition.
  • Planned uses include lending, borrowing, credit, vaults and structured products.
  • Anchorage Digital joined as a launch partner and plans to provide stablecoin liquidity.

The capital is committed, but Sui’s announcement does not say that the full amount has already been deposited into Hashi or is available to borrowers. Access will open in stages as partners complete integrations, according to the foundation.

How will Hashi put Bitcoin to work on Sui?

Hashi is designed to let deposited Bitcoin serve as collateral in financial applications on Sui while the underlying BTC remains on the Bitcoin network. The system mints hBTC, a Sui-based token representing deposited Bitcoin, for use across those applications.

When a user exits, Hashi burns the hBTC and releases native BTC back to the Bitcoin network, Sui said. Potential uses include borrowing stablecoins against Bitcoin, lending BTC or stablecoins, and building credit products and vaults.

The structure is intended to let Bitcoin holders seek liquidity or lend against their holdings without first selling the BTC. The announcement describes Hashi as infrastructure: third parties will create and offer the financial products that use it.

Who is backing the launch, and how can institutions join?

Sui says more than 20 companies have joined the launch coalition, including BitGo, Bullish, Cumberland, FalconX and Ledger. Aftermath, Concrete and Fluid are among the providers expected to run Hashi vaults.

Anchorage Digital is adding two routes for institutional clients: access through Atlas, its settlement and tri-party collateral infrastructure, and direct access through Porto, its institutional self-custody wallet. It also plans to provide stablecoin liquidity, according to Sui.

Cointelegraph’s report likewise described the rollout as phased and the $500 million as partner commitments. Neither source says how much capital will be deployed at launch or which applications will be open first.

What safeguards will protect Bitcoin collateral?

Sui says Hashi uses a 2-of-2 multisignature structure, which requires authorization from Hashi validators and a separate Guardian Layer before BTC can move. The Guardian Layer can slow or stop suspicious collateral movements, according to the announcement.

The foundation also said Hashi’s smart contracts underwent formal verification by Certora, while CommonPrefix reviewed the cryptographic security of its multi-party computation protocol. Those measures are part of the design Sui described; the announcement does not report performance under live mainnet conditions.

Sources and documents