In a strategic move, AllUnity, a joint venture supported by prominent firms including DWS, Flow Traders, and Galaxy Digital, has expanded 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-aligned token, 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 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. This mechanism also supports trading, lending, and treasury management using a stable euro unit.
The growing interest in non-dollar stablecoins, particularly in Europe, drives this expansion. As firms increasingly seek digital assets that adhere to regulatory standards, euro-pegged tokens have experienced rapid growth, doubling in value since early 2025 to nearly $1 billion. Projections indicate that the market could reach 570 billion euros by 2030. The demand for regulated euro stablecoins is on the rise, and AllUnity's multi-blockchain approach may 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 such as payments, trading, and fiat onramps.