In a strategic expansion, AllUnity, a joint venture supported by prominent financial institutions, has launched its euro-backed stablecoin, EURAU, on the Solana blockchain. This move enables the token to leverage Solana's high-speed network, commonly utilized 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 lower transaction costs for euro-denominated transfers. This development allows businesses and developers to facilitate euro transactions on-chain in a matter of seconds. For instance, payments firms can now execute cross-border payouts to contractors in real-time, eliminating the need for prolonged bank transfers. Additionally, this mechanism can support trading, lending, or treasury management using a stable euro unit.
The growing interest in non-dollar stablecoins, particularly in Europe, is driven by the demand for 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 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 emphasized the need for more euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. AllUnity has highlighted the increasing demand for regulated euro stablecoins and the potential for multi-blockchain expansion to drive broader adoption in finance and corporate payments.
The company's CTO and COO, Peter Grosskopf, noted that Solana's speed and scalability make it an ideal environment for institutional-grade settlement and cross-border payments. Several partners, including Bullish, Privy, Hercle, and Transak, are preparing to utilize EURAU on Solana for various applications such as payments, trading, and fiat on-ramps.