AllUnity, a joint venture backed by prominent financial institutions, has successfully launched its euro-backed stablecoin, EURAU, on the Solana blockchain. This strategic expansion enables EURAU to leverage Solana's high-speed network, typically utilized for payments and trading. Initially introduced 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, payment firms can now execute cross-border payouts to contractors in real-time, eliminating the need for prolonged bank transfers. This mechanism can also support various financial activities, including 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 adhere to regulatory standards. Although US dollar tokens dominate the $300 billion stablecoin market, euro-pegged tokens have witnessed rapid growth, doubling in value since the beginning of 2025 to nearly $1 billion. According to S&P projections, the market is expected 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 highlighted the increasing demand for regulated euro stablecoins and believes that expanding across multiple blockchains can 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 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.