In a strategic move, AllUnity, a joint venture backed 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 setup allows businesses and developers to facilitate euro transactions on-chain in a matter of seconds. For instance, payments firms can now send 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, where firms are seeking digitally compliant assets, has driven this move.
While 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 by the S&P, the market could reach 570 billion euros ($672 billion) by 2030.
French Finance Minister Roland Lescure has emphasized the need for more euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. AllUnity has also noted the rising demand for regulated euro stablecoins and believes that expanding across multiple blockchains can drive broader adoption in both 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 various applications such as payments, trading, and fiat on-ramps.