Sui’s Hashi Platform Launches With $500 Million in Capital Commitments

The platform functions by maintaining Bitcoin on its native network while minting hBTC on Sui, a programmable asset that mirrors the deposited value. This structure allows third-party developers to build lending markets, credit products, and automated vaults without requiring the original BTC to move as a conventional wrapped token. Mysten Labs, the developer behind the infrastructure, designed the system to ensure that when a user exits, the hBTC is burned and the underlying Bitcoin is released back to the user's address.

Anchorage Digital is joining as a primary launch partner, offering institutions two distinct access models. Through its Atlas settlement infrastructure, companies can keep Bitcoin within qualified custody while participating in financing activity, while the Porto self-custody wallet provides a route for hedge funds and market makers to access Hashi applications directly.

Security remains a central focus, with Hashi employing a multi-party computation (MPC) framework alongside a "Guardian Layer." This independent check acts as a safeguard, capable of slowing or stopping suspicious collateral movements. While the $500 million figure represents significant industry support from firms like BitGo, Cumberland, and Ledger, Sui officials clarify that this is committed capital rather than live on-chain deposits. The phased mainnet rollout will begin in October, with access scaling as partners finalize their technical integrations.