New tech to power bitcoin lending is set to debut with $500 million in commitments
The Sui blockchain is launching Hashi, an institutional network designed to allow Bitcoin holders to use their assets as collateral for lending without moving them off the Bitcoin ledger. The project has secured $500 million in capital commitments to provide liquidity for institutional DeFi users.
Why it matters
Represents a significant step in integrating Bitcoin into decentralized finance, potentially unlocking trillions in dormant capital for institutional use.
Layer-1 blockchain Sui is set to launch Hashi, a new institutional network that allows holders to use Bitcoin as collateral for lending without moving it off the Bitcoin ledger. The mainnet is slated to roll out in phases later this month.
To back the ecosystem, the initiative has already secured $500 million in capital commitments from a coalition of over 20 industry partners.
While these are commitments rather than immediate deposits, the pre-pledged capital ensures that when the system debuts, markets can open with deep liquidity instead of starting empty.
“Hashi is launching with serious capital and a coalition of industry leaders because institutions want to put Bitcoin to work without giving up the protections they require,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original creator of Sui, said in an official announcement .
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