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 last July, EURAU is a fully reserved and regulated e-money framework-aligned token, adhering to 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 overall efficiency of cross-border payments.
The setup facilitates instantaneous euro transactions on-chain, allowing businesses and developers to process payments in seconds. This mechanism has far-reaching implications, supporting real-time cross-border payouts, trading, lending, and treasury management using a stable euro unit. The growing interest in non-dollar stablecoins, particularly in Europe, underscores the demand for digital assets that meet stringent regulatory standards. While the US dollar dominates the stablecoin market, euro-pegged tokens have experienced rapid growth, doubling in value since early 2025 to nearly $1 billion.
Projections by the S&P indicate that the market could reach 570 billion euros by 2030, with the French Finance Minister calling for increased adoption of euro-denominated stablecoins and urging EU banks to explore tokenized deposits. AllUnity emphasizes the rising demand for regulated euro stablecoins and the potential for multi-blockchain expansion to 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.' 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.