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. EURAU, which initially launched on Ethereum in July, operates under a regulated e-money framework, aligning 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 mere seconds, thereby supporting real-time cross-border payouts, trading, lending, and treasury management. The growing interest in non-dollar stablecoins, particularly in Europe, underscores the demand for digital assets that adhere to regulatory standards. While the US dollar dominates the stablecoin market, euro-pegged tokens have experienced significant growth, doubling in value since the start of 2025 to nearly $1 billion. Projections indicate the market could reach 570 billion euros by 2030.
The French Finance Minister has emphasized the need for more euro-denominated stablecoins, encouraging EU banks to explore tokenized deposits. AllUnity notes the rising demand for regulated euro stablecoins and believes that expanding across multiple blockchains will 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, 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 applications such as payments, trading, and fiat onramps.