The Sui Foundation announced that its Hashi Bitcoin collateral infrastructure has secured over $500 million in committed capital ahead of its phased mainnet launch. The project, unveiled on October 8, 2026, at Sui Basecamp, is supported by a coalition of more than 20 partners.
Hashi allows native Bitcoin to remain on its original network while utilizing smart contracts on Sui to manage collateral for lending, borrowing, and structured products. The system issues hBTC, a representation of Bitcoin on Sui, and utilizes threshold cryptography with a 2-of-2 multisig arrangement for security.
To prevent rapid fund drainage, the infrastructure includes a guardian rate-limiter. Anchorage Digital has joined as a key institutional partner, providing access to Hashi through its Atlas settlement system and Porto self-custody wallet. Early liquidity is expected to flow through vault providers including Aftermath, Concrete, and Fluid.
The testnet for Hashi launched on July 22, 2026, with the transition to a mainnet announcement occurring in under three months. The project aims to avoid traditional wrapping methods and centralized management, focusing instead on institutional-grade compliance.
