In a strategic move, AllUnity, a joint venture backed by prominent financial institutions, 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 framework compliant 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. For instance, payments firms can now send cross-border payouts to contractors in real-time, eliminating the need for prolonged bank transfers. This mechanism also supports trading, lending, and treasury management using a stable euro unit. The growing interest in non-dollar stablecoins, particularly in Europe, is driven by the demand for digital assets that meet regulatory standards.
While the US dollar dominates the $300 billion stablecoin market, euro-pegged tokens have seen rapid growth, with their market size doubling since the start of 2025 to nearly $1 billion. According to projections, the market could reach 570 billion euros ($672 billion) by 2030.
The French Finance Minister has urged EU banks to explore tokenized deposits and called for more euro-denominated stablecoins. AllUnity emphasizes that demand for regulated euro stablecoins is rising, and expanding across multiple blockchains can drive broader adoption in finance and corporate payments. As stated by 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, as demand for compliant euro stablecoins accelerates.' 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 on-ramps.