Sui's Native Bitcoin Financial Infrastructure Hashi Launches Mainnet This Month with Over $500 Million in Capital Commitments

On October 8, the mainnet of Sui's native Bitcoin financial infrastructure Hashi will launch this month, adopting a phased rollout approach. Currently, Hashi has secured over $500 million in capital commitments, with more than 20 cryptocurrency industry institutions participating in its launch alliance, and Anchorage Digital will also join as one of the first partners.

Hashi aims to bring native BTC into the programmable financial market on Sui. In Hashi, BTC remains on the Bitcoin network; after users deposit BTC, Hashi will mint corresponding hBTC on Sui. Users can utilize hBTC to participate in on-chain financial applications such as lending, credit, yield vaults, and structured products. Upon exit, hBTC is burned, and the corresponding native BTC is released back to the Bitcoin network.

Sui states that over $500 million in capital commitments are currently in place to provide initial liquidity for the Bitcoin financial market on Hashi. The related funds will enter lending, borrowing, credit, and other BTC-supported markets through Hashi vault providers such as Aftermath, Concrete, and Fluid.

In terms of institutional participation, Anchorage Digital will connect to Hashi through two pathways. Its Atlas settlement and third-party collateral infrastructure will provide access channels for institutions that meet qualified custody, compliance, and operational requirements. Additionally, Anchorage Digital's institutional self-custody wallet, Porto, will also support institutions in directly using Hashi. Furthermore, Anchorage Digital plans to provide stablecoin liquidity to Hashi.

The application scenarios for Hashi include obtaining stablecoin liquidity using BTC as collateral, BTC lending, BTC-backed credit products, automated vaults, structured products, real-world assets, and Bitcoin-backed bonds. Institutions such as BitGo, Bullish, Cumberland, FalconX, and Ledger have also participated in the Hashi ecosystem development.

In terms of security, Hashi employs MPC, Sui smart contracts, and a Guardian Layer to build multi-layer protection. The BTC collateral uses a 2/2 multi-signature mechanism, jointly authorized by Hashi validators and Guardians. Its smart contracts have undergone formal verification by Certora, and CommonPrefix has completed a cryptographic security review of the MPC protocol.
Sui indicates that the Hashi mainnet will gradually expand its open scope by the end of this month, and as partners complete integration, native BTC will begin to be used as programmable collateral in the Sui ecosystem in real-world environments.

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