A huge amount of $BTC is sitting idle on institutional balance sheets—Sui is opening a route to put it to use while keeping the coins on the Bitcoin network.
According to the official Sui blog and Anchorage Digital, Hashi, Sui’s native Bitcoin finance infrastructure, will begin a phased mainnet rollout this month. The launch consortium has more than 20 members, with over $500 million in capital commitments already secured. Anchorage is joining as a Day-1 partner: qualified custodians will use Atlas for three-party settlement, while self-custody users will use Porto. Anchorage also plans to provide stablecoin liquidity. The consortium roster also includes BitGo, Bullish, Cumberland, FalconX, and Ledger, among others; vault providers named include Aftermath, Concrete, and Fluid.
The mechanism is straightforward: native $BTC remains on the Bitcoin network, while Hashi mints hBTC on $SUI as programmable collateral. When users exit, hBTC is burned and BTC is released. Lending, vaults, and structured products are built independently by third parties; Mysten Labs contributed the underlying framework. The security model is described as MPC + a guardian layer + formal verification of contracts (Certora and others). The announcement stresses that \$500 million is committed capital, not that all of it is already on-chain.
Cointelegraph and others also reported the same facts around October 8. The mainnet is opening in phases, not all at once with the flip of a switch—first, watch to see who connects institutional rails. This is not investment advice.