AllUnity, a joint venture backed by prominent financial institutions, has extended its euro-backed stablecoin, EURAU, to the Solana blockchain, expanding its reach to a high-performance network commonly used for payments and trading. EURAU, which initially launched on Ethereum in July, operates under a regulated e-money framework aligned with the European Union's MiCA regulations, according to the company.
By integrating Solana, AllUnity seeks to provide faster settlement and lower transaction costs for euro-denominated transfers. This setup enables businesses and developers to transfer euros on-chain in seconds, facilitating real-time cross-border payouts, trading, lending, and treasury management using a stable euro unit.
The move reflects the growing interest in non-dollar stablecoins, particularly in Europe, where companies are seeking digital assets that meet regulatory standards. While US dollar tokens dominate the stablecoin market, euro-pegged tokens have experienced rapid growth, doubling since the start of 2025 to nearly $1 billion. The market is projected to reach 570 billion euros by 2030, with the French Finance Minister calling for increased adoption of euro-denominated stablecoins. AllUnity notes that demand for regulated euro stablecoins is rising, and expanding across multiple blockchains could 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,' said 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 payments, trading, and fiat onramps.