In a strategic move to expand its reach, AllUnity, a joint venture supported by DWS, Flow Traders, and Galaxy Digital, has launched its euro-backed stablecoin, EURAU, on the Solana blockchain. This development enables the token to leverage a high-speed network commonly used 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 reduced transaction costs for euro-denominated transfers. This setup allows businesses and developers to facilitate euro transactions on-chain in seconds, enabling real-time cross-border payouts and supporting trading, lending, or treasury management with a stable euro unit. The growing interest in non-dollar stablecoins, particularly in Europe, drives this expansion, where firms are seeking digital assets that meet regulatory standards.
While US dollar tokens dominate the $300 billion stablecoin market, euro-pegged tokens have experienced rapid growth, doubling since the start of 2025 to nearly $1 billion. According to projections, the market could reach 570 billion euros ($672 billion) by 2030. French Finance Minister Roland Lescure has urged the development of more euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. AllUnity emphasizes the rising demand for regulated euro stablecoins and the potential of multi-blockchain expansion to drive broader adoption in 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 payments, trading, and fiat on-ramps.