In a move to enhance the reach of its euro-backed stablecoin, EURAU, AllUnity, a joint venture supported by prominent firms DWS, Flow Traders, and Galaxy Digital, has successfully launched the token on the Solana blockchain. This expansion enables EURAU to leverage Solana's high-speed network, commonly utilized for payments and trading, and offers faster settlement and lower transaction costs for euro-denominated transfers. Initially introduced on Ethereum in July, EURAU is fully reserved and issued under a regulated e-money framework that aligns with the European Union's MiCA rules, according to the company. By incorporating Solana into its network, AllUnity aims to provide businesses and developers with the capability to transfer euros on-chain in mere seconds, facilitating real-time cross-border payouts and supporting trading, lending, or treasury management with a stable euro unit.
This development reflects the increasing interest in non-dollar stablecoins, particularly in Europe, where firms are seeking digital assets that adhere to regulatory standards. While the US dollar dominates the $300 billion stablecoin market, euro-pegged tokens have witnessed rapid growth, doubling in value since the start of 2025 to nearly $1 billion. The S&P has projected that the market could reach 570 billion euros ($672 billion) by 2030, prompting French Finance Minister Roland Lescure to advocate for more euro-denominated stablecoins and encourage EU banks to explore tokenized deposits. AllUnity has emphasized that the demand for regulated euro stablecoins is on the rise, and expanding across multiple blockchains could drive broader adoption in both finance and corporate payments.
'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,' stated Peter Grosskopf, CTO and COO of AllUnity. The company has also announced that several partners, including Bullish, Privy, Hercle, and Transak, are preparing to utilize EURAU on Solana for payments, trading, and fiat onramps.