Sui’s Hashi Bitcoin Lending Project Prepares For Mainnet With $500 Million Pledged

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR: Sui’s Hashi project is preparing for a phased October mainnet rollout with more than $500 million in partner capital commitments. Anchorage Digital is joining as a launch partner, but pledged funding is not the same as value already deployed on-chain. The next battleground for Bitcoin lending is not necessarily a Bitcoin-native blockchain. Sui is preparing to launch Hashi, an infrastructure system designed to let institutions use BTC as collateral in on-chain financial products. The Sui Foundation said on October 8 that Hashi had attracted more than $500 million in capital commitments from a coalition of over 20 partners. Anchorage Digital is joining the project to offer institutional access through custody-based arrangements and a self-custody option. Hashi is designed around a collateral representation called hBTC. Under the project description, Bitcoin is secured through its custody and protocol arrangements while hBTC is minted on Sui, allowing the economic value of those deposits to interact with lending and other applications. When positions are closed and redeemed, the ...