Enjin Blockchain Launches Cross-Chain Stablecoin Transfer Support via Hyperbridge
Enjin Blockchain has just announced a major step forward in integrating stablecoins into its NFT and gaming ecosystems, officially launching testnet support for USDC and USDT via Hyperbridge technology – opening up the potential for flexible and decentralized cross-chain applications.
Stablecoins USDC and USDT Tested on Hyperbridge
The two largest stablecoins in the market – USD Coin (USDC) and Tether (USDT) – are now integrated on Hyperbridge’s testnet, allowing users to lock up their native tokens on Ethereum or BNB Chain, then receive the equivalent tokens on Enjin Blockchain in the form of multitokens.
This technology is built on the MultiToken Pallet – a special module in Enjin’s blockchain architecture, based on Polkadot’s Substrate platform. This pallet enables the creation and transfer of a wide range of assets, from NFTs to utility tokens and stablecoins, and supports tools such as SDKs, APIs, and on-chain marketplaces.
Cross-chain Process: Decentralized, Transparent, and Verifiable
The asset transfer process begins with the user locking USDC or USDT into the Hyperbridge vault – a fully automated and decentralized step that does not rely on any Enjin application or intermediary platform. This action is confirmed by smart contracts and Hyperbridge validators, after which the multitoken is minted on the Enjin Blockchain.
These issued multitokens can be used like any other token in the Enjin ecosystem, including in games and applications that have integrated NFTs on the Enjin Matrixchain.
Importantly, the system ensures a 1:1 conversion ratio between the native stablecoin and the corresponding multitoken. Both the “locking” and “minting” processes are publicly verifiable, ensuring transparency. If users want to reclaim their original assets, they can burn multitokens on Enjin, triggering the reverse process to unlock the original USDC/USDT.
A step in the Enjin ecosystem expansion roadmap
This update is part of Enjin’s larger effort to expand the interoperability and practical applications of its private blockchain. Launched in September 2023, Enjin Blockchain is custom-built on the Substrate framework, focusing on the NFT, gaming, and decentralized applications space.
Previously, in December 2023, Enjin completed the migration of 200 million NFTs to the mainnet, promoting the use of Enjin Blockchain in the community. Users can easily claim these assets through Enjin Wallet, which has been updated to fully support the new features.
