Mysten Labs Unveils Hashi for Bitcoin-Collateralized Lending on Sui

Development firm Mysten Labs has introduced Hashi, a lending network that allows users to borrow against Bitcoin without transferring collateral off-chain.

11 October 2026 · +3

Mysten Labs, the developer behind the Sui blockchain, announced the phased October launch of Hashi, a decentralized finance network that enables Bitcoin holders to secure loans while retaining their collateral on the native Bitcoin blockchain.

According to reports from CoinDesk and Cointelegraph, the initiative has secured over $500 million in preliminary capital commitments from more than twenty industry partners. Borrowers receive loan payouts in assets on the Sui network rather than in Bitcoin.

The project relies on a multisignature locking mechanism on the Bitcoin network instead of a traditional cross-chain bridge. The report highlights that the $500 million figure represents institutional commitments rather than immediately available liquidity, with initial deposit figures yet to be disclosed by Mysten Labs.

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