Bitcoin
Sui Prepares Hashi Bitcoin Lending Protocol for October Launch With $500 Million in Pledges
The Sui Foundation has announced partner capital commitments for its Hashi project, which will allow institutions to use Bitcoin collateral via minted hBTC tokens.
The Sui Foundation announced on October 8 that its Hashi infrastructure project has secured more than $500 million in capital pledges from a group of over 20 partners ahead of a phased mainnet rollout scheduled for later in October. Anchorage Digital has joined as a launch partner to provide institutional custody and self-custody options.
Hashi is structured around a token called hBTC, which is minted on Sui to represent locked Bitcoin collateral. This model allows the underlying value of deposited Bitcoin to interact with on-chain lending protocols and other applications, with the minted tokens being burned when users redeem their collateral and close positions.
The project notes that the $500 million total represents commitments from partners rather than funds actively deployed or borrowed in a live system. The upcoming mainnet release will serve as the initial test of whether these pledges translate into sustained institutional borrowing and liquidity.
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