Hashi Plans October Mainnet Rollout With More Than $500 Million Committed

Hashi, a Mysten Labs-developed Bitcoin (BTC) finance infrastructure on Sui, plans a phased October mainnet rollout backed by more than $500 million in commitments for Bitcoin-backed lending and other products.

Sui announced the rollout Oct. 8 at its Basecamp conference in Singapore. Anchorage Digital joined a launch coalition of more than 20 partners and plans to provide stablecoin liquidity. The commitments represent capital pledged for the rollout, not an amount already deployed on mainnet.

Hashi is designed to let people use Bitcoin as collateral in applications coordinated by Sui smart contracts. Native BTC remains on the Bitcoin network when deposited, while hBTC is minted on Sui against it. When a user exits, the hBTC is burned and the BTC is released.

Mysten Labs developed the underlying infrastructure. Third parties will create and offer financial products built on it, including lending, borrowing, vaults and structured products. Vault providers identified for the launch include Aftermath, Concrete and Fluid.

Anchorage Digital plans to give institutional clients two ways to access Hashi. Its Atlas settlement and collateral system is intended for institutions with qualified custody and operational requirements, including companies that hold Bitcoin on their balance sheets. Its Porto wallet is designed to provide a direct self-custody route.

The mainnet plan follows Hashi’s July 22 testnet launch. The testnet introduced a Guardian Layer using a 2-of-2 multisignature arrangement involving Hashi validators and a guardian to coordinate Bitcoin-backed activity.

Hashi plans to begin the staged mainnet rollout before the end of October. Access will open progressively as launch partners complete their integrations.