In a strategic move, AllUnity, a joint venture backed by prominent firms including DWS, Flow Traders, and Galaxy Digital, has extended 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 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, thereby enhancing the efficiency of cross-border payments. The setup allows businesses and developers to facilitate euro transactions on-chain in a matter of seconds, which can be particularly beneficial for payments firms that require real-time cross-border payouts.
This mechanism also has the potential to support trading, lending, and treasury management using a stable euro unit. The growing interest in non-dollar stablecoins, especially within the European market, is a significant factor driving this expansion.
As firms increasingly seek digital assets that adhere to regulatory standards, euro-pegged tokens have experienced rapid growth, with their market value doubling 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, 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 rising demand for regulated euro stablecoins and believes that expanding across multiple blockchains can drive broader adoption in both finance and corporate payments. Peter Grosskopf, CTO and COO of AllUnity, noted that Solana's speed and scalability make it an ideal environment for institutional-grade settlement and cross-border payments. The company has also 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 on-ramps.