AllUnity, a joint venture supported by prominent financial institutions, has successfully launched its euro-backed stablecoin, EURAU, on the Solana blockchain. This strategic move extends the token's reach to a high-performance network, commonly utilized for payments and trading. Initially introduced on the Ethereum network last July, EURAU is a fully reserved and regulated e-money framework, aligned with the European Union's MiCA guidelines. By integrating Solana, AllUnity seeks to provide faster settlement and reduced transaction costs for euro-denominated transfers.
This development enables 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. Additionally, this mechanism can support trading, lending, and treasury management using a stable euro unit.
The expansion reflects the increasing interest in non-dollar stablecoins, particularly in Europe, where firms are seeking digital assets that meet regulatory standards. While the US dollar dominates the $300 billion stablecoin market, euro-pegged tokens have experienced rapid growth, doubling in value 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 encouraged the development of more euro-denominated stablecoins and urged EU banks to explore tokenized deposits. AllUnity has also noted a rising demand for regulated euro stablecoins and believes that expanding across multiple blockchains can drive broader adoption in finance and corporate payments. 'As demand for compliant euro stablecoins accelerates, Solana's speed and scalability make it an ideal 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 payments, trading, and fiat on-ramps.