In a strategic move, AllUnity, a joint venture backed by prominent firms 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.
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 reduced transaction costs for euro-denominated transfers. The setup facilitates instant euro movements on-chain, allowing businesses and developers to process payments in seconds. This mechanism can also support trading, lending, or treasury management using a stable euro unit.
The growing interest in non-dollar stablecoins, particularly in Europe, where firms seek regulatory-compliant digital assets, drove this expansion. While the US dollar dominates the $300 billion stablecoin market, euro-pegged tokens have experienced rapid growth, doubling since early 2025 to nearly $1 billion. Projections indicate the market could reach 570 billion euros ($672 billion) by 2030.
The French Finance Minister has called for increased euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. AllUnity noted rising demand for regulated euro stablecoins and emphasized that multi-blockchain expansion could 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.' Several partners, including Bullish, Privy, Hercle, and Transak, are preparing to utilize EURAU on Solana for various applications.