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      Sui Foundation Secures Over $500 Million for Bitcoin Collateral Network Ahead of Mainnet Launch

      The Sui Foundation has announced that its Hashi Bitcoin collateral network has secured more than $500 million in committed capital in preparation for a phased mainnet rollout. This announcement was made on October 8, 2026, during the Sui Basecamp event. The funding comes from a coalition of over 20 partners, including Anchorage Digital, which is a prominent institutional player in the cryptocurrency space.

      Hashi aims to utilize Bitcoin as collateral while keeping it on the Bitcoin network. The system will mint hBTC, a representation of Bitcoin on the Sui platform, allowing holders to transition between hBTC and native Bitcoin through deposit and withdrawal mechanisms. Security measures include threshold cryptography and a guardian rate-limiter designed to prevent rapid fund withdrawals, thereby protecting against potential attacks.

      The $500 million committed capital is intended to serve as initial liquidity for the launch rather than existing deposits. Anchorage Digital will facilitate access to Hashi through its Atlas tri-party collateral settlement system and Porto self-custody wallet, also contributing stablecoin liquidity. The phased rollout of Hashi is expected to commence later in October 2026, following a successful testnet launch on July 22, 2026.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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