Guardian

Lombard

Million

Bitcoin

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 <h3 id="key-takeaways">Key takeaways</h3>
 <ul>
 <li>Sui's Hashi secures over $500 million in commitments</li>
 <li>Anchorage Digital adds institutional custody and collateral access</li>
 <li>Phased mainnet launch targets Bitcoin-backed lending and borrowing</li>
 </ul>
 Sui is preparing to launch Hashi, a Bitcoin finance platform backed by more than $500 million in capital commitments, with Anchorage Digital joining an institutional coalition seeking to bring Bitcoin-backed lending and borrowing to the blockchain.
 The rollout, scheduled to begin in phases during October, could allow institutions to use Bitcoin as collateral without selling their holdings. Hashi has attracted more than 20 partners, including BitGo, FalconX, Cumberland, Bullish and Ledger.
 According to the <a href="https://www.sui.io/blog/hashi-mainnet-to-launch-with-500m-in-capital-backing-adds-anchorage-digital-to-coalition" rel="noopener noreferrer nofollow">Sui Foundation</a>, the committed capital will support lending, credit markets and structured financial products. However, the $500 million represents pledged capital rather than confirmed liquidity already deployed on mainnet.How Hashi Could Unlock $500 Million in Bitcoin Finance 
 Hashi was developed by Mysten Labs to connect native Bitcoin collateral with programmable financial applications on Sui.
 Users deposit BTC under the protocol's collateral arrangements, receiving an equivalent representation called hBTC on Sui. That asset can then interact with lending protocols, while the underlying Bitcoin remains secured on its original blockchain.
 When users redeem their holdings, hBTC is burned and the corresponding BTC is released.
 The structure extends Sui's earlier <a href="https://coinpaper.com/6205/sui-foundation-teams-up-with-babylon-labs-lombard-and-cubist-to-bring-programmable-bitcoin-to-sui" rel="noopener noreferrer nofollow">Bitcoin integration</a> efforts, including collaborations with Babylon, Lombard and Cubist.
 Other ecosystem projects have already introduced <a href="https://coinpaper.com/10389/volo-unveils-w-btc-vaults-to-expand-bitcoin-de-fi-on-sui" rel="noopener noreferrer nofollow">Bitcoin vaults</a> and <a href="https://coinpaper.com/9682/navi-teams-up-with-okx-to-roll-out-x-btc-lending-on-sui" rel="noopener noreferrer nofollow">BTC lending</a> products.
 Hashi's distinguishing feature is its attempt to coordinate native Bitcoin collateral across institutional financial services rather than relying exclusively on existing wrapped-token arrangements.Anchorage Digital Opens Two Institutional Routes 
 Anchorage Digital will provide institutional clients with two ways to access Hashi, according to its <a href="https://www.anchorage.com/press-room/anchorage-digital-joins-hashi-as-a-day-1-launch-partner" rel="noopener noreferrer nofollow">official announcement</a>.
 The first uses Atlas, its settlement and tri-party collateral infrastructure, allowing institutions to mobilize Bitcoin held in qualified custody. This could be particularly relevant for companies managing large Bitcoin treasuries.
 The second uses Porto, Anchorage's institutional self-custody wallet, enabling direct access to supported lending and collateral strategies.
 Anchorage also plans to contribute stablecoin liquidity, which could help support borrowing against BTC collateral.
 The partnership reflects growing efforts to connect institutional custody with <a href="https://coinpaper.com/5870/ika-launches-on-sui-revolutionizing-cross-chain-de-fi" rel="noopener noreferrer nofollow">decentralized finance</a>, although custody arrangements and smart-contract risks remain distinct considerations.What Hashi Means for SUI and Bitcoin Adoption 
 Hashi enters an increasingly competitive Bitcoin finance market, where protocols are seeking to make BTC useful beyond long-term holding.
 Earlier <a href="https://coinpaper.com/3063/sui-tops-300-m-in-tvl-passes-bitcoin-and-joins-upper-echelon-of-de-fi-protocols" rel="noopener noreferrer nofollow">Sui DeFi growth</a> demonstrated demand for lending and trading applications, while new Bitcoin collateral products could expand the network's financial activity.
 However, capital commitments do not guarantee actual deposits, borrowing demand or sustainable revenue.
 Security will also be critical. Hashi incorporates multiparty computation, a Guardian Layer and a multisignature authorization structure intended to protect collateral movements.
 The planned rollout follows Sui's broader expansion into <a href="https://coinpaper.com/6244/babylon-labs-and-lombard-protocol-bring-liquid-bitcoin-staking-to-sui" rel="noopener noreferrer nofollow">Bitcoin staking</a> and institutional financial applications.
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Sui Unveils $500 Million Bitcoin Finance Plan With Anchorage Digital Ahead of October Mainnet Launch

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