New tech to power bitcoin lending is set to debut with $500 million in commitments
Source: CoinDesk ·
From the source
Layer-1 blockchain Sui is launching Hashi, an institutional protocol allowing holders to use bitcoin as collateral without moving it off the Bitcoin network. Bitcoin BTC $82,528.87 -backed finance is about to get a massive, well-funded liquidity boost. Layer-1 blockchain Sui is set to launch Hashi, a new institutional network that allows holders to use Bitcoin as collateral for lending without moving it off the Bitcoin ledger. The mainnet is slated to roll out in phases later this month. To back the ecosystem, the initiative has already secured $500 million in capital commitments from a coalition of over 20 industry partners. While these are commitments rather than immediate deposits, the pre-pledged capital ensures that when the system debuts, markets can open with deep liquidity instead of starting empty. “Hashi is launching with serious capital and a coalition of industry leaders because institutions want to put Bitcoin to work without giving up the protections they require,”…