Hashi Mainnet to Launch With $500M in Capital Backing, Adds Anchorage Digital to Coalition

Hashi mainnet will go live later this month, backed by more than $500 million in capital commitments from over 20 leading crypto firms. The network introduces a system where native Bitcoin remains on the Bitcoin network while Hashi coordinates its use as collateral through Sui smart contracts. When Bitcoin is deposited, an equivalent amount of hBTC is minted on Sui for use in applications, and native BTC is released upon redemption. This mechanism allows institutions to leverage Bitcoin holdings without selling them, enabling new financial strategies.

Anchorage Digital, the first federally chartered crypto bank in the U.S., joins Hashi as a day-one launch partner, providing institutional clients access through two routes. Tri-party collateral solutions via Atlas and self-service access through the Porto wallet will allow institutions to deploy Bitcoin as collateral for liquidity, financing, and diversified yield strategies. The bank will also supply stablecoin liquidity to Hashi, enhancing the network's capital efficiency.

Hashi was developed by Mysten Labs, the original contributor to Sui, as an infrastructure primitive rather than a standalone product. The mainnet launch follows a sequenced rollout, with Bitcoin collateral put to work under real conditions as partners complete integrations. More than 20 launch partners, including BitGo, Bullish, Cumberland, and Ledger, have joined the ecosystem, expanding access to Bitcoin finance for institutions and retail users.

Security for Hashi relies on a multi-layered approach, including MPC security, Sui smart contracts, and a Guardian Layer. Bitcoin collateral is secured through a 2-of-2 multisig structure requiring validator and guardian authorization. Formal verification by Certora and a cryptographic review by CommonPrefix further strengthen the system, ensuring robust protection for deposited assets.