In a move to expand its reach, AllUnity, a joint venture backed by prominent financial institutions, has launched its euro-backed stablecoin, EURAU, on the Solana blockchain. This development enables the token to leverage Solana's high-speed network, commonly utilized for payments and trading.
EURAU, which initially debuted on Ethereum last July, operates under a regulated e-money framework, aligning with the European Union's MiCA rules. By integrating Solana, AllUnity seeks to provide faster settlement and lower transaction costs for euro-denominated transfers, allowing businesses and developers to facilitate euro transactions on-chain in mere seconds.
This capability can support a range of applications, including cross-border payouts, trading, lending, and treasury management using a stable euro unit. The growth of non-dollar stablecoins, particularly in Europe, underscores the demand for digital assets that adhere to regulatory standards. Despite the dominance of U.S.
dollar tokens in the $300 billion stablecoin market, euro-pegged tokens have experienced significant growth, doubling in value since the start 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. Furthermore, French Finance Minister Roland Lescure has advocated for an increase in euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits.
AllUnity emphasizes the rising demand for regulated euro stablecoins and believes that expanding across multiple blockchains will 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 also announced that 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.