Enjin Blockchain Has Added Testnet Support for Stablecoins USDC and USDT

Enjin Blockchain has added testnet support for stablecoins USDC and USDT, enabling their use within its NFT and gaming ecosystem via Hyperbridge.

Enjin Blockchain has added testnet support for stablecoins USD Coin (USDC) and Tether (USDT), enabling their use within its NFT and gaming ecosystem via Hyperbridge.

The integration, announced Thursday, is part of a broader effort by Enjin to grow adoption of its own blockchain, launched in September 2023 as a custom network built on Polkadot’s Substrate framework.

The new testnet setup lets users lock their USDC or USDT on Ethereum or BNB Chain, then Hyperbridge steps in to confirm the action and helps mint a matching stablecoin version — called a multitoken — on Enjin Blockchain.

“The locking of the original token in a Hyperbridge vault occurs in a decentralized, user-directed manner with no interaction with Enjin’s apps or platforms, managed fully by Hyperbridge smart contracts and relayers,” the team explained.

The multitokens will then function like any other token on Enjin, with the team noting that many games and platforms on Enjin Matrixchain already have support for NFTs and similar features. The system is also designed to maintain a 1:1 link between the original stablecoin and its multitoken version on Enjin. Both the locking and minting steps are publicly verifiable and can be audited, according to the team. To get the original token back, users can burn their multitokens on Enjin, triggering a reverse process to unlock the original asset.

The addition of stablecoin support to Hyperbridge’s testnet comes as the service is already capable of cross-chain token transfers for various blockchains, including Ethereum, BNB Chain, NEAR, and Polygon.

The upgrade uses Enjin’s MultiToken Pallet, which supports the creation and transfer of many types of tokens, including stablecoins. The pallet is part of Enjin’s Substrate-based blockchain architecture and underlies features such as the on-chain marketplace, NFT minting, and SDK/API access.