In a strategic move to broaden its reach, AllUnity, a joint venture supported by DWS, Flow Traders, and Galaxy Digital, has successfully launched its euro-backed stablecoin, EURAU, on the Solana blockchain. This expansion enables EURAU to leverage Solana's high-speed network, commonly utilized for payments and trading, thereby enhancing the token's capabilities.
Initially introduced on Ethereum in July of the previous year, EURAU is a fully reserved and regulated e-money framework-aligned token, compliant with the European Union's MiCA regulations, as stated by the company. By integrating Solana into its network, AllUnity seeks to provide faster settlement times and lower transaction costs for euro-denominated transfers, thereby streamlining cross-border payments. This development allows businesses and developers to facilitate euro transactions on-chain in a matter of seconds.
For instance, payments firms can now execute real-time cross-border payouts to contractors, eliminating the need for lengthy bank transfers. Moreover, this mechanism can also support trading, lending, or treasury management utilizing a stable euro unit. The decision to expand to Solana reflects the growing interest in non-dollar stablecoins, particularly in Europe, where companies are seeking digital assets that adhere to regulatory standards.
Although U.S. dollar tokens dominate the $300 billion stablecoin market, euro-pegged tokens have experienced rapid growth, doubling in value since the beginning of 2025 to nearly $1 billion.
According to projections by the S&P, the market could potentially reach 570 billion euros ($672 billion) by 2030. French Finance Minister Roland Lescure has called for an increase in euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. AllUnity has also emphasized the rising demand for regulated euro stablecoins and believes that expanding across multiple blockchains could drive broader adoption in both finance and corporate payments. As stated by Peter Grosskopf, CTO and COO of AllUnity, '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.' 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.