Sui’s Hashi Network Launches with $500M in Bitcoin Finance Commitments
- Hashi, developed by Mysten Labs, will roll out in October with over $500 million in capital commitments.
- The network allows users to mint hBTC on Sui using Bitcoin as collateral for various financial applications.
- More than 20 companies, including BitGo and Ledger, are part of the launch coalition.
- Anchorage Digital joins as a partner, providing institutional access and stablecoin liquidity to Hashi.
- When users exit, hBTC is burned, returning the underlying BTC to the Bitcoin network.
The launch of Hashi aims to enhance the usability of Bitcoin for public companies and institutions constrained by current DeFi technologies. This initiative could open new avenues for lending, borrowing, and structured products within the crypto space.
With a coalition backing exceeding $500 million, Hashi’s rollout represents a significant step toward integrating DeFi solutions into mainstream finance.(Source)
