On March 19, 2026, the Sui Foundation unveiled Hashi, a Sui-based decentralized primitive that integrates native Bitcoin (BTC) into on-chain financial services. Hashi enables both institutional and retail participants to lend or borrow against BTC without selling the underlying asset, aiming to unlock capital efficiency for the $1.4 trillion Bitcoin market.
Industry Giants Back Hashi From Day One
Major players including Bitgo, Bullish, FalconX, and Ledger have committed to the platform, providing liquidity, custody, and infrastructure. Erebor Bank will also contribute BTC and stablecoin liquidity for lending. This institutional backing ensures deep liquidity and enterprise-grade security from launch.
How Hashi Works: MPC and ERC-3643 for Security and Compliance
Hashi leverages multi-party computation (MPC) and the ERC-3643 standard to allow users to lend or borrow against Bitcoin without selling the asset. The protocol features institutional-grade insurance from Soter and has undergone formal verification by premier security firms like Certora, ensuring mathematical certainty and collateral safety.
Mainnet Roadmap: Bitcoin-Collateralized Bonds and Retail Access
Following the devnet phase, Hashi will migrate to mainnet. Partner Wave Digital plans to issue secured, rated bonds collateralized by Bitcoin. Native Sui protocols such as Navi and Scallop will provide immediate access to BTC-backed stablecoin loans for the broader community. For retail users, local protocols Alphalend and Suilend will offer Hashi-powered lending services, democratizing access to Bitcoin-backed financial products.
Vision: Unlocking Trillions in BTC Liquidity
“Think of Hashi as the unlock for developers to design solutions opening access to trillions in BTC liquidity,” said Adeniyi Abiodun, Co-Founder and CPO of Mysten Labs. This statement underscores Hashi’s potential to dramatically expand Bitcoin’s role in decentralized finance.