Sui’s Hashi to launch with $500M in Bitcoin finance commitments

What happened: Mysten Labs' Hashi Bitcoin finance network will start a phased rollout in October. It mints hBTC on Sui against deposited Bitcoin for use in Sui applications, with hBTC burned and BTC returned on exit. Key numbers: More than $500 million in capital commitments. More than 20 companies in the launch coalition. Why it matters: Anchorage Digital joined as a launch partner, offering institutions settlement and self-custody access plus planned stablecoin liquidity. Its CEO said institutions' Bitcoin use has been constrained by technology and DeFi limits.

Mysten Labs' Hashi Bitcoin finance network will start a phased rollout in October. It mints hBTC on Sui against deposited Bitcoin for use in Sui applications, with hBTC burned and BTC returned on exit.

Anchorage Digital joined as a launch partner, offering institutions settlement and self-custody access plus planned stablecoin liquidity. Its CEO said institutions' Bitcoin use has been constrained by technology and DeFi limits.