AllUnity, a joint venture supported by DWS, Flow Traders, and Galaxy Digital, has launched its euro-backed stablecoin, EURAU, on the Solana blockchain. This move extends the token's reach to a high-speed network commonly used for payments and trading. EURAU, which initially debuted on Ethereum in July, operates under a regulated e-money framework aligned with the European Union's MiCA rules. By incorporating Solana, AllUnity seeks to provide faster settlement and lower transaction costs for euro-denominated transfers.
This setup enables businesses and developers to facilitate euro transactions on-chain in seconds, allowing for real-time cross-border payouts, trading, lending, and treasury management using a stable euro unit. The expansion reflects the growing interest in non-dollar stablecoins, particularly in Europe, where firms are seeking digital assets that meet regulatory standards.
While the US dollar dominates the $300 billion stablecoin market, euro-pegged tokens have experienced rapid growth, doubling since the start of 2025 to nearly $1 billion. The S&P forecasts the market could reach 570 billion euros ($672 billion) by 2030. French Finance Minister Roland Lescure has called for more euro-denominated stablecoins and urged EU banks to explore tokenized deposits. AllUnity notes that demand for regulated euro stablecoins is increasing, and expanding across multiple blockchains could drive broader adoption in finance and corporate payments.
"Solana's speed and scalability make it a natural environment for institutional-grade settlement and cross-border payments, as demand for compliant euro stablecoins accelerates," said Peter Grosskopf, CTO and COO of AllUnity. Several partners, including Bullish, Privy, Hercle, and Transak, are preparing to utilize EURAU on Solana for payments, trading, and fiat onramps.