Mysten Labs Launches Hashi Protocol with $500M in Bitcoin Collateral Commitments

Key Facts

1Mysten Labs launched the Hashi network on the Sui blockchain, allowing Bitcoin to serve as loan collateral while remaining on the Bitcoin chain.

2Over $500 million in commitments have been secured for the project, though specific liquidity terms and schedules remain open.

Mysten Labs launched the Hashi network on the Sui blockchain, allowing Bitcoin to serve as loan collateral while remaining on the native Bitcoin chain. According to reports from CoinDesk and Cointelegraph, over $500 million in financial commitments have been secured for the project from more than twenty partners, though specific liquidity terms and schedules remain open.

The protocol aims to bridge Bitcoin liquidity into the Sui ecosystem securely by utilizing a non-custodial approach where collateral stays on the native blockchain without the need for traditional bridges. This launch occurs as Bitcoin has declined 1.76% over the past seven days, entering what observers describe as a quiet phase in market activity.