Sui’s Hashi to launch with $500M in Bitcoin finance commitments
Hashi has more than $500M in commitments ahead of mainnet launch, while Anchorage offers institutions settlement and self-custody.
Mysten Labs’ Hashi Bitcoin finance network will begin a phased rollout in October with more than $500 million in capital commitments from its launch partners.
Hashi uses Bitcoin (BTC) as collateral in Sui applications by minting hBTC on Sui against deposited Bitcoin, the Sui Foundation announced Thursday. Applications could include lending, borrowing, credit, vaults and structured products.
When users exit, hBTC is burned and the underlying BTC is returned to the Bitcoin network.