GitHub has a similar workflow - you can use "squash and rebase" as merge strategy, which adds a reference to the PR to the subject and combines the text of all commits into one.
But like the parent said, it's not nearly as fancy.
Of note is that in this workflow, the commit message is not subject to the same review process as the code and (hopefully) documentation etc, since it's in effect written by the user merging rather than the user committing.
"Merge branch 'dev-hello' into 'master'"
Phabricator makes it so that the squashed commit summary is the summary of the diff (merge request)