Sui's Hashi just went live with $500M in committed capital.
The Sui Foundation announced at Basecamp on Oct 8 that Hashi mainnet begins a phased rollout this month, backed by more than $500M in capital commitments from a coalition of 20+ firms: BitGo, Bullish, Cumberland, FalconX, Ledger, and now Anchorage Digital, America's first federally chartered crypto bank, which is giving its institutional clients direct access plus stablecoin liquidity.
The mechanic: BTC stays on Bitcoin. hBTC is minted on Sui as programmable collateral for lending, vaults, credit and structured products. Burn on exit, native BTC returns.
The number that matters is not $500M. It is the $1T+ of Bitcoin sitting idle because institutions could not touch DeFi without giving up the compliance protections they require. Hashi is the cleanest attempt yet to crack that door: federally chartered custody, stablecoin liquidity, and capital lined up before day one.
Wrapped BTC on other chains has always carried custodial fine print. If Hashi's MPC plus guardian layer holds up, this becomes the template for institutional Bitcoin finance. Worth watching which vault providers get the flows first.
Follow for daily crypto markets and on-chain breakdowns.
$BTC $SUI
The Sui Foundation announced at Basecamp on Oct 8 that Hashi mainnet begins a phased rollout this month, backed by more than $500M in capital commitments from a coalition of 20+ firms: BitGo, Bullish, Cumberland, FalconX, Ledger, and now Anchorage Digital, America's first federally chartered crypto bank, which is giving its institutional clients direct access plus stablecoin liquidity.
The mechanic: BTC stays on Bitcoin. hBTC is minted on Sui as programmable collateral for lending, vaults, credit and structured products. Burn on exit, native BTC returns.
The number that matters is not $500M. It is the $1T+ of Bitcoin sitting idle because institutions could not touch DeFi without giving up the compliance protections they require. Hashi is the cleanest attempt yet to crack that door: federally chartered custody, stablecoin liquidity, and capital lined up before day one.
Wrapped BTC on other chains has always carried custodial fine print. If Hashi's MPC plus guardian layer holds up, this becomes the template for institutional Bitcoin finance. Worth watching which vault providers get the flows first.
Follow for daily crypto markets and on-chain breakdowns.
$BTC $SUI