BTC as collateral testbed
Sui Network announced Hashi, a solution enabling Bitcoin to be used as collateral in decentralized lending infrastructure—illustrating an emerging approach to collateralized working capital outside traditional banking rails. The post highlights growing experimentation with blockchain for working‑capital use cases. (x.com)
Sui published a March 19, 2026 blog post that set Hashi’s devnet as “imminent” and said mainnet deployment is planned later in 2026. (blog.sui.io)) The announcement named early institutional commitments from BitGo, Bullish, FalconX, Erebor Bank, Fordefi and ecosystem integrations with AlphaLend, Navi, Scallop and Suilend. (blog.sui.io)) Hashi’s technical design paper describes securing BTC via threshold cryptography and representing pooled deposits as a fungible Coin<BTC> on Sui, rather than relying on wrapped tokens. (mystenlabs.github.io)) Sui states lending will be Hashi’s primary launch use case, allowing BTC to be lent or borrowed against stablecoins while also enabling builders to originate credit and build structured products on top. (blog.sui.io)) Multiple reports and Sui materials say Hashi pairs multi‑party computation (MPC)/threshold custody with on‑chain Sui programs, and the roadmap calls for insurance coverage for BTC collateral and plans to enable Bitcoin‑backed bond issuance. (coinalertnews.com)) Hashi’s smart contracts are slated for formal verification and audits by Asymptotic, Certora and OtterSec, with Asymptotic positioned as an official formal‑verification provider for Sui Move code. (bitget.com)) Sui cited Bitcoin’s ~$1.4 trillion market cap and estimated only 0.22% (≈$3.07 billion) of BTC is currently deployed in DeFi, and named FalconX, Bullish and OCC‑chartered Erebor among initial providers of BTC or stablecoin liquidity while supported stablecoins listed include Sui Dollar, eSui Dollar, FDUSD, USDC and Matrixdock’s XAUm. (blog.sui.io))
