AllUnity, a joint venture supported by DWS, Flow Traders, and Galaxy Digital, has extended its euro-backed stablecoin, EURAU, to the Solana blockchain. This move expands the token's reach to a high-performance network commonly used for payments and trading. Initially launched on Ethereum in July, EURAU is a fully reserved and regulated e-money framework aligned with the European Union's MiCA rules. By incorporating Solana, AllUnity seeks to provide faster settlement and lower transaction costs for euro-denominated transfers.
The setup enables businesses and developers to transfer euros on-chain in seconds, facilitating real-time cross-border payouts and supporting trading, lending, and treasury management with a stable euro unit. This development reflects the growing interest in non-dollar stablecoins, particularly in Europe, where companies are seeking digital assets that meet regulatory standards. While US dollar tokens dominate the $300 billion stablecoin market, euro-pegged tokens have experienced rapid growth, doubling since early 2025 to nearly $1 billion. The S&P projects the market could reach 570 billion euros ($672 billion) by 2030.
French Finance Minister Roland Lescure has called for more euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. AllUnity notes that demand for regulated euro stablecoins is increasing, and expanding across multiple blockchains could drive broader adoption in finance and corporate payments. According to Peter Grosskopf, CTO and COO of AllUnity, '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.' AllUnity has announced that several partners, including Bullish, Privy, Hercle, and Transak, are preparing to utilize EURAU on Solana for payments, trading, and fiat on-ramps.