Enjin Blockchain has introduced testnet support for the stablecoins USDC and USDT, allowing their use within its NFT and gaming ecosystem through Hyperbridge. Stablecoins are arriving on Enjin Blockchain, with USD Coin (USDC) and Tether (USDT) now active on Hyperbridge’s testnet, a move the team says will enable cross-chain functionality. This enhancement utilizes Enjin’s MultiToken Pallet, which facilitates the creation and transfer of various token types, including stablecoins, according to a Thursday blog post from the team. This pallet is integrated into Enjin’s Substrate-based blockchain design and supports features like the on-chain marketplace, NFT minting, and SDK/API interfaces. The testnet setup permits users to lock their USDC or USDT tokens on Ethereum or BNB Chain, after which Hyperbridge verifies this action and helps mint an equivalent stablecoin version—termed a multitoken—on Enjin Blockchain. The team explained that locking the original token within a Hyperbridge vault is conducted in a “decentralized, user directed manner, ” adding that this process excludes Enjin’s apps or platforms and is entirely governed by Hyperbridge smart contracts and relayers. Once minted, multitokens function the same as any other token within the Enjin ecosystem, with many games and platforms on Enjin Matrixchain already supporting NFTs and related features. They emphasized that the system aims to preserve a 1:1 peg between the original stablecoin and its multitoken counterpart on Enjin.

According to the team, both locking and minting steps are publicly verifiable and auditable. To retrieve the original token, users can burn their multitokens on Enjin, triggering a reverse process that unlocks the original asset. This new testnet support advances Enjin’s wider initiative to expand adoption of its blockchain, which launched in September 2023 as a custom network built on Polkadot’s Substrate framework.