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Hashi targets October launch with more than $500M committed

Sui says Hashi will begin a phased October mainnet rollout with more than $500 million in commitments, backing markets that let users borrow against Bitcoin.

The Crypto News Week Editors2 min read

Hashi targets October launch with more than $500M committed

More than $500 million in capital commitments will back Hashi as Sui begins a phased mainnet rollout in October, giving its Bitcoin finance network committed capital for lending and other markets, according to the Sui Foundation announcement. The commitments come from a launch coalition of more than 20 companies.

That backing gives Hashi a pool of committed capital as it starts putting Bitcoin to work on Sui.

Anchorage Digital has joined the coalition as a launch partner. Sui says Anchorage will connect institutional clients through its settlement infrastructure and self-custody wallet, and plans to provide stablecoin liquidity. Other named coalition members include BitGo, Bullish, Cumberland, FalconX and Ledger.

How will Hashi use Bitcoin as collateral?

Hashi will let users deposit Bitcoin and use it as collateral in financial applications on Sui. As Cointelegraph reported, Hashi mints hBTC on Sui against deposited Bitcoin; when users exit, hBTC is burned and the underlying BTC is returned to the Bitcoin network.

That setup is intended to let Bitcoin support lending, borrowing, credit, vaults and structured products without selling the underlying BTC. Sui says third parties will independently create and offer the financial products built on Hashi.

Is the $500 million already deposited?

Sui describes the figure as capital commitments from the launch coalition, not as Bitcoin already deposited into Hashi. The foundation says access will open progressively as partners complete their integrations, so the announced amount does not establish how much capital will be available in each market at launch.

The rollout is sequenced: as integrations come online, native BTC can be deposited, hBTC minted and collateral used under live conditions. Sui says the scale will expand over time.

What markets are planned for launch?

Sui lists lending, borrowing, credit, vaults and structured products among the uses Hashi is designed to support. The network provides the underlying infrastructure; separate providers will build and offer those products.

For you, the key measure after launch will be how much of the committed capital reaches active markets and which products partners make available. Sui has announced the commitments and rollout plan, but not a breakdown of deposits or a schedule for individual products.

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