Sui said Hashi mainnet is expected to begin a phased rollout later in October 2026, backed by more than $500 million in capital commitments from more than 20 launch partners. That figure describes commitments—not confirmed deposits, immediately available lending liquidity, or a promised return. Hashi is infrastructure for using Bitcoin in Sui applications; access and financial products will depend on integrations and deployments.
What Hashi is—and what it is not
Sui describes Hashi as native Bitcoin finance infrastructure for its network. It is not, by itself, a lending account or a yield product. Hashi is intended to support Bitcoin-backed applications, while third parties build and offer the financial products that use the infrastructure.
The October 8, 2026 announcement describes a planned, phased mainnet rollout later that month. Sui said partner access would open progressively as integrations are completed, so an announced launch does not mean every partner or application is already available.
How Bitcoin is intended to move through Hashi
- Deposit native BTC: Bitcoin stays on the Bitcoin network. When a user deposits BTC through Hashi, the system is intended to mint hBTC on Sui against that BTC.
- Use hBTC in a Sui application: hBTC can be used as an asset in applications built on Sui. Announced use cases include lending, borrowing, credit, vaults and structured products; availability depends on the relevant application being deployed and integrated.
- Exit back to Bitcoin: The described exit flow burns hBTC and releases native BTC back to Bitcoin.
Hashi coordinates collateral use through Sui smart contracts. The applications that use the collateral are separate products, with their own terms, operational arrangements and risks. The launch materials do not establish a universal yield, withdrawal schedule or set of product terms.
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What the $500 million commitment means
Sui’s October 8 announcement says more than $500 million in capital commitments came from a launch coalition of more than 20 crypto-industry partners. It does not give a commitment-by-commitment breakdown, say how much had already been deposited, disclose binding terms, or promise that the capital will be available as liquidity at launch. Treat the figure as committed capital, not as assets under management, confirmed deposits or guaranteed borrowing capacity.
Sui’s March 19, 2026 introduction also said that 0.22% of Bitcoin, or $3.07 billion, was being used in DeFi. That is Sui’s estimate for the context of its March introduction; the announcement does not establish it as an independently verified current measurement.
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Who is backing Hashi, and who can access it?
The October announcement names Anchorage Digital as a new day-one launch partner and identifies BitGo, Bullish, Cumberland, FalconX and Ledger among a coalition of more than 20 partners. Sui’s earlier announcements also name organizations including Erebor Bank, Fordefi, AlphaLend, Navi, Scallop, Suilend, CF Benchmarks and Cubist in various roles. The July testnet announcement names additional application, vault, oracle and security partners, including Soter Insure for Bitcoin-denominated institutional insurance. These mentions identify an ecosystem, not confirmation that each partner’s product is live on mainnet.
Anchorage Digital’s two announced institutional routes
- Atlas: Anchorage says its Atlas infrastructure supports tri-party collateral settlement for institutions that need qualified custody and operational controls.
- Porto: Anchorage describes its Porto institutional self-custody wallet as a route for organizations seeking direct access.
Anchorage also said it plans to provide stablecoin liquidity. Access to these routes and liquidity depends on the phased integration process; the announcement does not specify launch dates or product-level terms.
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What an individual Bitcoin holder should take from the partner list
The partner announcements do not establish that an individual can deposit BTC today, that a particular wallet or application is compatible, or that any specific lending or vault product has launched. Ledger is named as a wallet partner, but the announcements do not identify a supported hardware-wallet model or confirm model-specific compatibility. A wallet mention should not be treated as a requirement or as a guarantee of access.
Security design and remaining risks
Sui says Hashi combines multi-party computation (MPC), Sui smart contracts and a Guardian Layer. In Sui’s description, BTC collateral is controlled by a 2-of-2 multisig requiring authorization from Hashi validators and the guardian. Sui describes the Guardian Layer as an additional check that can slow or stop suspicious collateral movement. Sui also says Certora formally verified the smart contracts and CommonPrefix conducted a cryptographic security review of the MPC protocol.
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Those are security measures and review claims attributed to Sui, not guarantees against loss. Users may face protocol, custody, counterparty, smart-contract, liquidity and collateral-management risks. The launch materials do not provide enough detail to quantify those risks or establish that principal is protected.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to check before using a Hashi product
Because Hashi is infrastructure and the applications are separate, assess the specific product rather than relying on the network-wide commitment figure or partner list. Before depositing BTC, look for clear answers to these questions:
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- Is the application live on mainnet, and is access available in your location and for your account type?
- Which collateral and stablecoin does it support, and what custody and contract arrangements govern the funds?
- What are the borrowing, liquidation, withdrawal and redemption terms, including any delays or conditions?
- Where does any advertised return come from, and can it change? The Hashi launch announcement itself promises no yield.
- What happens if the application, its counterparties, or the collateral-management process fails?
Without product-specific terms and live integration details, the announcements do not support ranking applications by yield, fees, liquidity or safety.
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