Sui is preparing to roll out Hashi, a Bitcoin-backed lending network, in late October 2026, backed by over USD 500 million in capital commitments. The network will enable institutional participants to leverage Bitcoin as collateral without transferring their original assets away from the Bitcoin blockchain. Over 20 industry partners have already signed on to the initiative, featuring Anchorage Digital, which intends to deliver institutional access along with stablecoin liquidity.
As detailed in Sui’s October 8 announcement, the mainnet will debut in a phased rollout. The committed funds will back borrowing, lending, credit markets, and other financial products as the participating providers finalize their integrations.
Sui Hashi Secures USD 500 Million Ahead of October Mainnet Launch
The USD 500 million figure reflects capital commitments rather than capital already deposited within the lending markets. Even so, these pledges provide a solid financial foundation for Hashi’s upcoming debut and subsequent growth.
The collaborative coalition comprises custodians, liquidity providers, blockchain protocols, and financial infrastructure firms. Among the participating companies are BitGo, Bullish, Cumberland, FalconX, and Ledger.
Additionally, Aftermath, Concrete, and Fluid rank among the partners slated to run Hashi vaults. These services will channel accessible capital into lending operations and alternative Bitcoin-secured financial activities.
Sui estimates that more than USD 1 trillion worth of Bitcoin currently sits largely dormant across corporate and institutional portfolios. Numerous entities maintain the cryptocurrency strictly as a long-term holding, bypassing borrowing and other financial applications.
Adeniyi Abiodun, Mysten Labs co-founder and chief product officer, connected the network’s launch to rising institutional appetite for Bitcoin-centric financial solutions.
He noted that institutions are eager to put their Bitcoin holdings to work while keeping the custody and security safeguards essential to their business operations.
How Will Hashi Support Bitcoin-Backed Lending?
Hashi relies on a framework that maintains deposited Bitcoin on its native network while facilitating financial operations via Sui. To begin, users lock their Bitcoin into a designated vault address on the Bitcoin blockchain. Access to this collateral is managed through a two-party signature scheme.
Subsequently, Hashi mints hBTC tokens on Sui that correspond to those Bitcoin reserves. Decentralized applications can then utilize these tokens across borrowing, lending, credit markets, and additional financial services.
The workflow likewise incorporates a withdrawal process. When participants close out their positions, the system destroys their hBTC tokens and unlocks the original Bitcoin from its vault. Furthermore, Hashi incorporates a standalone guardian layer built to oversee suspicious collateral transfers, offering an extra layer of defense that can pause transactions needing further scrutiny.
Security auditing firm Certora has conducted formal verification on Hashi’s smart contracts. In addition, CommonPrefix evaluated the cryptographic mechanisms behind its multi-party computation protocol.
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Anchorage Digital Expands Institutional Access to Hashi
Anchorage Digital has signed on as a launch partner for Hashi, contributing custody infrastructure alongside intended stablecoin liquidity. The firm will present institutional clients with two distinct pathways for access. Its Atlas infrastructure is designed to manage collateral agreements for entities operating under strict qualified custody mandates.
Meanwhile, its Porto wallet will deliver a self-custody alternative for institutions looking to interact directly with Bitcoin-backed financial applications. Nathan McCauley, CEO of Anchorage Digital, pointed out that legacy technology has historically constrained how institutions deploy their Bitcoin assets within decentralized finance.
This initiative also arrives at a time when Bitcoin-backed borrowing is stretching past conventional cryptocurrency trading. Such credit facilities can be leveraged to fund corporate working capital, real estate acquisitions, and educational costs.
Nonetheless, the network’s deployment will proceed incrementally. Sui anticipates that the various participating applications and financial products will go live progressively as integrations advance throughout the launch cycle.
Final Thoughts
Sui’s Hashi network is scheduled to roll out Bitcoin-backed lending in October, bolstered by more than USD 500 million in pledges from over 20 partners. Its architecture enables institutions to employ Bitcoin as collateral while keeping the underlying assets securely on the native blockchain. Anchorage Digital will facilitate stablecoin liquidity and institutional access.
