Sui’s Hashi to launch with $500M in Bitcoin finance commitments
Summary
Mysten Labs’ Hashi Bitcoin finance network is set to begin a phased rollout in October, backed by more than $500 million in capital commitments from launch partners. It will let users deposit Bitcoin and mint hBTC on Sui for use as collateral in lending, borrowing, vaults and other financial products; hBTC is burned when the underlying BTC is withdrawn. The coalition includes more than 20 firms, including BitGo, Bullish, Cumberland, FalconX and Ledger. Anchorage Digital joined as a partner, providing institutional access through its settlement infrastructure and self-custody wallet, and plans to supply stablecoin liquidity. Third parties will build products on the network.
