Mysten Labs launches Hashi with $500M for Bitcoin loans, collateral stays on BTC chain
- —Over $500M committed by 20+ partners, including BitGo, FalconX and Ledger
- —BTC is locked in a multisig vault while an hBTC token is issued on Sui
- —Vaults are run by Aftermath, Concrete and Fluid, which set loan terms
- —Certora audited the smart contracts and CommonPrefix reviewed the MPC cryptography
Why it matters: The project gives BTC holders a way to access liquidity without selling, but adds multisig custody and counterparty risk.
Source: CryptoTicker