Key facts
- Hashi will use Bitcoin as collateral in Sui applications by minting hBTC against deposited Bitcoin.
- Over $500 million in capital commitments have been secured from launch partners.
- Anchorage Digital will provide stablecoin liquidity to Hashi.
- The network's launch coalition includes over 20 companies such as BitGo, Bullish, Cumberland, FalconX, and Ledger.
Mysten Labs' Hashi Bitcoin finance network is preparing for a phased launch in October, backed by more than $500 million in capital commitments from its initial partners. The network aims to enable the use of Bitcoin (BTC) as collateral within applications built on the Sui platform by minting a wrapped version of Bitcoin, known as hBTC, on Sui against deposited Bitcoin.