Hashi Secures More Than USD 500 Million in Capital Commitments ... October Mainnet Launch and Anchorage Digital Join
TECHWORLD ·
✦ AI Summary
Sui announced at 'Sui Basecamp 2026' in Singapore that the mainnet for Bitcoin financial infrastructure 'Hashi' is scheduled to go live later this month.
Hashi will begin mainnet operations with capital commitments of more than USD 500 million from more than 20 launch partners, and Anchorage Digital has also joined as a new launch partner.
Hashi's mainnet works by keeping Bitcoin on the existing network and using it as collateral through Sui smart contracts, issuing hBTC on deposit and returning native BTC when it is burned.
Sui announced at
Hashi will begin mainnet operations with more than USD 500 million in capital commitments from more than 20 launch partners. Anchorage Digital has also joined as a new launch partner. Anchorage Digital holds a federally chartered digital asset bank in the U.S. and will support institutional clients using Hashi. It will also provide additional stablecoin liquidity to the network. Hashi will launch its mainnet based on more than USD 500 million in committed capital from launch partners.
The committed funds secured will support the liquidity of vaults operated by several Hashi Vault providers. Examples of Hashi Vault providers include Aftermath, Concrete, and Fluid.
As the Sui-based Bitcoin-collateralized financial market takes shape, the market will be able to secure substantial funding from the outset for lending, borrowing, credit supply, vaults, and structured products. This will create a structure in which a range of financial applications can operate with a funding base from the early stages of operations.
The background to Hashi's development was the lack of financial activity using more than USD 1 trillion in Bitcoin. There was demand from institutions and listed companies for native BTC use, but there were few options that met their requirements for transparency, regulatory compliance, control, and security. In the past, there was also a lack of ways to use native BTC in programmable financial markets.
Hashi's mainnet approach to solving this keeps Bitcoin on the existing network while using it as collateral through Sui smart contracts. When a user deposits Bitcoin into Hashi, hBTC is issued on Sui against that collateral. Users can use the hBTC issued in this way across a range of applications.
In the asset redemption process, the user burns hBTC and then receives native BTC back on the Bitcoin network. This structure keeps Bitcoin on its original network while collateralizing it on Sui, issuing hBTC on deposit and burning it on redemption to return the original BTC.
Hashi was designed as infrastructure on which multiple services can be built, rather than as a specific financial product, and Mysten Labs, which contributed to Sui's early development, developed Hashi's underlying framework. Hashi is not an individual financial product; it is an infrastructure design.
On top of this, the development and provision of actual financial products will be carried out independently by third parties. Hashi supports programmable collateral use of native Bitcoin and plans to expand the range of financial applications that can be used.
Hashi's mainnet is scheduled to launch later this month. The mainnet launch marks the completion of the test phase, and after launch, the plan is to support the use of Bitcoin as collateral in Sui-based financial services.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407949
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Source: TECHWORLD
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