The Sui Foundation announced this Thursday (8) that Hashi, its new financial infrastructure for Bitcoin operations, will begin its mainnet launch in October, with more than US$ 500 million in capital commitments. The platform will allow BTC to be used as collateral in loans and other financial products without transferring the original asset to another blockchain.
The project brings together more than 20 partners, including BitGo, Bullish, Cumberland, FalconX and Ledger. Anchorage Digital, an American institution specializing in financial services for digital assets, also confirmed its participation from launch, offering access to companies and institutional investors.
The US$ 500 million represents commitments announced by participants, not a volume proven to have been deposited on the platform. Sui did not detail how much of that amount is already available, nor did it present an individual distribution of the funds among partners.
The infrastructure was developed by Mysten Labs, the company responsible for Sui's original technology. Its goal is to allow institutions to use Bitcoin reserves to obtain liquidity, secure financing and participate in credit markets without having to sell their positions.
How Bitcoin will be used as collateral without leaving its network
Hashi's operation depends on a mechanism that connects assets held on the Bitcoin network to smart contracts executed on Sui.
When a user deposits BTC into the system, the assets remain protected on the original blockchain. In exchange, the platform issues hBTC, a representation of the deposited Bitcoin that can circulate among financial applications on Sui.
This hBTC can be used as collateral for stablecoin loans, credit operations and structured financial products. Upon redemption, the corresponding tokens are destroyed and the original Bitcoin is released.
The architecture uses shared cryptographic signatures, validators and an additional protection layer called Guardian Layer, responsible for verifying movements of assets held as collateral. According to Sui, the smart contracts underwent formal verification by Certora, while CommonPrefix reviewed cryptographic components of the protocol.
The entry of Anchorage Digital adds two modes of institutional access. The first uses the Atlas infrastructure, which allows Bitcoin to be used as collateral while keeping assets under qualified custody, a model aimed at companies with stricter regulatory and operational requirements.
The second works through Porto, an institutional self-custody wallet that offers direct access to Hashi's applications. This mode mainly serves funds, mining companies, market makers and liquidity providers that manage their own operations.
Anchorage also plans to provide stablecoin liquidity to support the platform's financial markets.
The launch will take place gradually throughout October, as partners complete their integrations. The lending and investment products will be developed and offered by third parties, while Hashi will provide the infrastructure for using Bitcoin as collateral.
