Anchorage Digital plans to offer institutional holders of Bitcoin (BTC) two ways into Hashi during its phased October rollout, giving clients options for using BTC as collateral without selling it.
The Sui Foundation said Anchorage plans to use Atlas, its settlement and tri-party collateral infrastructure, to serve institutional clients, including companies that hold BTC on their balance sheets. Porto, Anchorage’s institutional self-custody wallet, would provide the other route. The company also plans to supply stablecoin liquidity.
The foundation presents Hashi as a way to address what it says is a shortage of programmable financial markets with controls suited to institutional Bitcoin holders. Access through Atlas and Porto is planned during the rollout, which will expand as partners complete their integrations.
The plans add detail to the previously announced Hashi rollout. The foundation says a group of more than 20 partners has committed over $500 million to it. Those are pledges for the rollout, not a tally of BTC already deposited on mainnet.
Developed by Mysten Labs, Hashi is designed to connect BTC collateral to financial applications on Sui. Deposited Bitcoin remains on the Bitcoin network while a corresponding token, hBTC, is created on Sui. When a holder withdraws, the hBTC is destroyed before the BTC is released.
Other providers are expected to offer products built on Hashi, including lending, borrowing and vaults. The foundation has also identified structured products as a planned use. Hashi provides the underlying connection between Bitcoin and Sui; those providers would develop the financial services available through it.
The testnet Hashi launched July 22 required approval from both validators and a guardian before BTC collateral could be released. The foundation has given no exact date for mainnet access.
