AllUnity, a joint venture supported by prominent firms including DWS, Flow Traders, and Galaxy Digital, has successfully launched its euro-backed stablecoin, EURAU, on the Solana blockchain. This strategic expansion enables EURAU to leverage Solana's high-speed network, commonly utilized for payments and trading. Initially introduced on Ethereum in July, EURAU is a fully reserved and regulated e-money token that aligns with the European Union's MiCA guidelines. By integrating Solana, AllUnity seeks to provide faster and more cost-effective euro-denominated transactions.
This development allows businesses and developers to facilitate euro transfers on-chain in a matter of seconds. For instance, payments companies can now execute cross-border payouts to contractors in real-time, rather than relying on traditional bank transfers that may take days. This mechanism also supports trading, lending, and treasury management using a stable euro unit. The growing interest in non-dollar stablecoins, particularly in Europe, has driven the demand for digital assets that meet regulatory standards.
Although the US dollar dominates the $300 billion stablecoin market, euro-pegged tokens have experienced significant growth, doubling in value since the start of 2025 to nearly $1 billion. According to the S&P, the market is projected to reach 570 billion euros ($672 billion) by 2030.
French Finance Minister Roland Lescure has emphasized the need for more euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. AllUnity has also noted the rising demand for regulated euro stablecoins and believes that expanding across multiple blockchains can drive broader adoption in both finance and corporate payments. Peter Grosskopf, CTO and COO of AllUnity, stated, 'As demand for compliant euro stablecoins accelerates, Solana's speed and scalability make it a natural environment for institutional-grade settlement and cross-border payments.' The company has announced that several partners, including Bullish, Privy, Hercle, and Transak, are preparing to utilize EURAU on Solana for various purposes such as payments, trading, and fiat onramps.