Sui is launching its Bitcoin finance system to mainnet with substantial institutional backing. The Sui Foundation announced Thursday that Hashi will begin a phased mainnet rollout later this month backed by more than $500 million in capital commitments from its launch coalition.
Anchorage Digital is joining the coalition as a launch partner, providing institutional clients access through two infrastructure routes: Atlas for tri-party collateral arrangements with qualified custody, and Porto, Anchorage's institutional self-custody wallet.
How Hashi Works
Hashi is designed to let Bitcoin remain secured on the Bitcoin network while being used as collateral in financial applications built on Sui. When BTC enters the system, a corresponding hBTC asset is minted on Sui. That hBTC can then interact with lending markets, vaults, and other applications. When the position is unwound, hBTC is burned and the underlying Bitcoin is released.
This approach differs from conventional wrapped Bitcoin tokens. Hashi aims to give institutions a way to use BTC as programmable collateral without selling or permanently moving Bitcoin into a separate smart-contract ecosystem.
Launch Coalition and Use Cases
The coalition includes BitGo, Bullish, Cumberland, FalconX, and Ledger. The $500 million in initial capital will support lending, borrowing, credit products, vaults, structured products, and other Bitcoin-backed applications as providers complete their integrations.
The launch is particularly relevant to public companies and funds holding large Bitcoin positions. Bitcoin treasury companies have accumulated substantial balances, but making those holdings productive typically requires selling BTC, borrowing through centralized lenders, or entering bespoke financing arrangements.
Security Measures
Hashi uses a 2-of-2 multisignature structure involving validators and a guardian layer, with additional controls designed to slow or stop suspicious movements. Smart contracts have undergone formal verification and the underlying cryptographic protocol has been reviewed. These safeguards show the product is being built for institutional users rather than early-stage experimental Bitcoin DeFi.
