Sui is moving closer to the mainnet launch of Hashi, a decentralized Bitcoin collateralization primitive designed to connect native BTC with on-chain financial applications. Hashi aims to let Bitcoin holders use BTC for borrowing, lending and yield strategies without selling the underlying asset, expanding the role of Bitcoin as programmable collateral within Sui’s DeFi ecosystem.
According to Sui’s official announcement, Hashi mainnet is approaching, although the network has not yet disclosed a specific activation date. The architecture keeps the underlying collateral on Bitcoin while representing deposited assets on Sui, where smart contracts can use them in financial applications.
Over $1T of $BTC sits idle because using it usually means handing it to someone.
Hashi is set to change this, keeping BTC on the Bitcoin network and opening financial services on Sui.
Mainnet is coming soon.
Read more: https://t.co/BiYa2FH7Cm
— Sui (@SuiNetwork) September 15, 2026
Hashi Testnet Prepares Native Bitcoin Finance for Mainnet
Hashi’s production rollout follows the launch of its public testnet, which gave developers, custodians and financial institutions an environment for testing Bitcoin-backed products. Users deposit native BTC into a Hashi-generated 2-of-2 multisig address on Bitcoin, after which validators confirm the deposit and hBTC is minted on Sui. Repaying a position and burning hBTC allows the corresponding native BTC to be released back to a Bitcoin address.
The test environment has already generated substantial activity. Recent Hashi testnet progress included more than 1.1 million deposit events and approximately 165,000 withdrawals, providing an early stress test for the infrastructure before production deployment. Those figures measure testnet interactions rather than the amount of BTC deposited or evidence of live mainnet demand.
Security is built around multiple layers rather than a conventional centralized custodian. Hashi combines MPC signing with a Guardian Layer designed as a secondary risk-management mechanism for Bitcoin collateral, while Asymptotic, Certora and OtterSec are among the firms involved in security auditing and formal verification. The Guardian Layer is intended to provide an additional authorization check before collateral can leave the system.
Institutional Partners Prepare Hashi Integrations
Hashi has attracted a group of liquidity, custody and DeFi participants ahead of mainnet. Bullish, Erebor Bank, FalconX and Cumberland are among the firms supporting liquidity, while BitGo, Ledger and Fordefi are part of the wider infrastructure ecosystem. AlphaLend, Navi, Scallop and Suilend are also preparing lending integrations that could use Hashi collateral across Sui applications.
Soter Insure is developing Bitcoin-denominated institutional insurance, adding another risk-management component to the ecosystem. The combination of lending integrations, custody infrastructure and security controls is intended to position Hashi as a building block for institutional Bitcoin credit, although actual liquidity and adoption will only become measurable after mainnet deployment.
The rollout also arrives as Sui’s broader network infrastructure continues to expand. That wider transaction activity provides context for Hashi’s deployment environment but does not itself demonstrate demand for Bitcoin-backed lending, making it important to separate general network usage from adoption of the new primitive.
Developer resources and integration tooling are already available as participating teams prepare for production. The next concrete milestone is Hashi’s mainnet activation, followed by the amount of native BTC that actually enters live lending and collateral markets. Until Sui publishes a firm launch date, Hashi remains in its testnet phase despite the project signaling that mainnet is approaching.