Mysten Labs' Hashi Bitcoin finance network will begin phased mainnet rollout in October, backed by more than $500 million in capital commitments from launch partners. The Sui Foundation announced Thursday that Hashi enables Bitcoin to serve as collateral within Sui applications.
Hashi mints hBTC on Sui against deposited Bitcoin, enabling on-chain lending, borrowing, credit vaults and structured products. When users exit, hBTC is burned and the underlying Bitcoin returns to the Bitcoin network, maintaining a direct peg.
The launch coalition includes more than 20 companies: BitGo, Bullish, Cumberland, FalconX, Ledger and Anchorage Digital. Anchorage will provide institutional clients access to Hashi through its settlement infrastructure and self-custody wallet solutions, and supply stablecoin liquidity to the network.
"Public companies and institutions hold significant amounts of Bitcoin, but their ability to use that capital has been constrained by available technology and the scope of the DeFi space," said Nathan McCauley, CEO and co-founder of Anchorage Digital.
Third-party providers will build financial products on Hashi infrastructure. Expected vault providers include Aftermath, Concrete and Fluid, which will manage collateralized Bitcoin and create yield-generating strategies on Sui.
The integration targets institutional Bitcoin holders seeking yield. Sui's throughput—demonstrated at 40.6 million transactions per second in recent live AI agent tests—provides the transactional capacity to support the network.
