In a strategic move, AllUnity, a joint venture backed by prominent firms including DWS, Flow Traders, and Galaxy Digital, has extended its euro-backed stablecoin, EURAU, to the Solana blockchain. This expansion enables the token to leverage Solana's high-speed network, commonly utilized for payments and trading. Initially launched on Ethereum in July, EURAU is a fully reserved and regulated e-money token aligned with the European Union's MiCA rules. By integrating Solana, AllUnity seeks to provide faster settlement and lower transaction costs for euro-denominated transfers.
This development allows businesses and developers to facilitate euro transactions on-chain in a matter of seconds, enabling real-time cross-border payouts and supporting various financial applications such as trading, lending, and treasury management. The growing interest in non-dollar stablecoins, particularly in Europe, drives this move, as firms increasingly seek digital assets that meet regulatory standards. While the US dollar dominates the $300 billion stablecoin market, euro-pegged tokens have experienced rapid growth, doubling since early 2025 to nearly $1 billion. Projections indicate the market could reach 570 billion euros ($672 billion) by 2030, with the French Finance Minister advocating for more euro-denominated stablecoins and encouraging EU banks to explore tokenized deposits.
AllUnity emphasizes the rising demand for regulated euro stablecoins and the potential for multi-blockchain expansion to drive broader adoption in finance and corporate payments. According to Peter Grosskopf, CTO and COO of AllUnity, Solana's speed and scalability make it an ideal 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 applications.