Hashi mainnet will launch this month, securing over $500 million in funding commitments, with Anchorage Digital joining the alliance

Key Takeaways:

• Hashi's mainnet will roll out in phases starting this month, bringing Sui-native Bitcoin financial infrastructure to a global audience.
• Over $500 million in capital commitments have already been secured for Hashi, giving the Bitcoin collateral market substantial liquidity from day one when it launches this year.
• Anchorage Digital joins the Hashi ecosystem, opening a new path for institutions to enter Bitcoin finance through tri-party settlement under qualified custody and direct self-custody, while also providing stablecoin liquidity.

Bitcoin has spent over 15 years becoming one of the world's largest pools of capital. Hashi is now preparing to put that capital to work.

Today at Sui Basecamp 2026, Sui announced that Hashi's mainnet will launch later this month, with a launch coalition of more than 20 heavyweight crypto industry institutions and over $500 million in committed capital. Anchorage Digital, the first federally chartered crypto bank in the United States, becomes the latest day-one launch partner, providing its institutional clients with access to Hashi and bringing additional stablecoin liquidity to the network.

Mainnet Has Locked In Over $500 Million in Capital Commitments**

As Hashi enters mainnet, it has secured over $500 million in committed capital from its launch coalition. This liquidity gives Sui's Bitcoin collateral market a head start: lending, credit, vaults, structured products, and other applications can launch with capital already in place within vaults operated by Hashi vault providers such as Aftermath, Concrete, and Fluid.

The opportunity Hashi targets is straightforward: over $1 trillion in Bitcoin sits largely idle because institutions and public companies holding Bitcoin lack a way to put native BTC to use in programmable financial markets with transparency, compliance, control, and security.

Mainnet changes this. Bitcoin remains on the Bitcoin network, while Hashi coordinates its use as collateral through Sui smart contracts. When BTC enters Hashi, hBTC is minted on Sui at a 1:1 ratio to the deposited Bitcoin and can be used across various applications; when users exit, hBTC is burned and the native BTC is released back to the Bitcoin network.

Adeniyi Abiodun, co-founder and Chief Product Officer of Mysten Labs, said: "Bitcoin has become a global reserve asset, and the financial infrastructure around it is now catching up. Hashi launches with solid capital and a coalition of industry leaders because institutions want to make Bitcoin work without giving up the protections they need."

Tax Position and Infrastructure

Additionally, participating in Hashi may move more institutions off the sidelines. According to a Fenwick opinion, Hashi's deposit and redemption mechanisms should not constitute taxable events under U.S. tax law.

Hashi is designed as an infrastructure primitive rather than a product. The underlying framework was developed by Mysten Labs, the original contributor to Sui, while all financial products are independently created and offered by third parties.

Mainnet is where this buildout and real capital converge. Through a phased mainnet rollout, native BTC can be deposited, hBTC minted, and put to use as Bitcoin collateral under real-world conditions, with scale expanding over time. Access will gradually open up as launch partners complete integrations and progressively open Bitcoin finance to their own clients, from institutional custody desks to retail wallets.

Anchorage Digital Brings a New Institutional On-Ramp

Anchorage Digital will open Hashi to clients through two pathways.

Tri-party collateral solution: Institutions operating under strict qualified custody, compliance, and operational requirements can access Hashi through Anchorage Digital's settlement and tri-party collateral infrastructure, Atlas. This includes public companies holding Bitcoin on their balance sheets, as well as digital asset treasury companies that may currently lack direct access to DeFi.

For these companies, yield-generating Bitcoin can transform the economics of their balance sheets. BTC can become collateral for liquidity and financing without first being sold, opening up new ways to manage capital costs.

Self-service pathway: Through Anchorage Digital's institutional self-custody wallet, Porto. Institutions can access Hashi directly via self-custody, pursuing broader strategies across lending, diversified yield, and real-world asset exposure, suited for crypto-native venture funds, hedge funds, miners, market makers, and LPs that need speed and capital efficiency. Anchorage Digital also plans to provide stablecoin liquidity to Hashi.

Nathan McCauley, CEO and co-founder of Anchorage Digital, said: "Public companies and institutions hold enormous amounts of Bitcoin, but the ability to use this capital has been limited by available technology and the constraints of DeFi. Connecting our institutional clients with Hashi represents a paradigm shift and maturation of Bitcoin finance, and we are excited to be part of it."

What Hashi Can Do

Hashi turns native Bitcoin into programmable collateral for an expanding range of financial applications:

• Borrowing: Obtain stablecoin liquidity against BTC without selling the underlying Bitcoin.
• Lending: Provide BTC or stablecoin capital to on-chain credit markets.
• Credit origination: Create Bitcoin-collateralized loans with programmable, transparent terms.
• Vaults: Deploy BTC into automated strategies according to established risk parameters.
• Structured products: Build new Bitcoin-collateralized financial products directly on-chain.
• Real-world assets: Use Bitcoin collateral to access strategies tied to assets and yields beyond crypto.
• Bitcoin-collateralized bonds: Support fixed-income products backed by Bitcoin collateral.
• Institutional treasury management: Turn long-term BTC holdings into productive working capital.

This opportunity has attracted one of the broadest coalitions assembled around Bitcoin finance. BitGo, Bullish, Cumberland, FalconX, Ledger, and other leading custodians, liquidity providers, wallets, infrastructure companies, and DeFi protocols are building around Hashi. More than 20 partners have joined since Hashi was first announced.

Security Design for a Bitcoin-Scale Market

With over $500 million in capital commitments and growing, the demands on security increase. Hashi uses MPC security, Sui smart contracts, and a Guardian Layer to form defense-in-depth around Bitcoin collateral. BTC collateral is secured through a 2-of-2 multisig structure, requiring authorization from both Hashi validators and guardians.

The Guardian Layer provides additional checks before BTC leaves the system and can slow or halt suspicious collateral flows.

Additionally, Hashi smart contracts have undergone formal verification by Certora, and CommonPrefix conducted a cryptographic security review of its MPC protocol.

Bitcoin Finance Goes Live

Hashi has gone from concept to devnet, testnet, more than 20 launch partners, and now over $500 million in committed capital.

At the end of this month, the preview ends and Bitcoin becomes productive collateral on Sui. For more information, visit https://www.sui.io/hashi. Institutions looking to deploy BTC or stablecoins can email hashi@sui.io.

Frequently Asked Questions

1. What is Hashi?

Sui-native Bitcoin financial infrastructure. It enables BTC to become programmable collateral for lending, credit, vaults, structured products, and other financial applications while the underlying Bitcoin remains on the Bitcoin network.

2. What is hBTC?

An asset minted on the Sui side against Bitcoin deposited into Hashi, enabling deposited BTC to interact with Sui applications. When users withdraw, the corresponding hBTC is burned and the native BTC is released on the Bitcoin network.

3. Why does the $500 million commitment matter?

Liquidity determines what a financial market can actually support. Over $500 million in commitments gives Hashi the potential to have significant liquidity at launch for lending, credit, and other Bitcoin collateral markets.

4. How do institutions access it?

Hashi is being integrated into a broad network of custodians, wallets, liquidity providers, and financial applications. Anchorage Digital adds two institutional pathways: tri-party settlement for those requiring regulated settlement and collateral infrastructure, and a self-custody wallet for those seeking self-service. The broader coalition includes BitGo, Bullish, Cumberland, FalconX, Ledger, and others.