Backed by DWS, Flow Traders, and Galaxy Digital (GLXY), AllUnity has expanded its euro-backed stablecoin, EURAU, to the Solana blockchain. This move aims to leverage Solana’s high-speed capabilities for payments and trading. Initially launched on Ethereum in July, EURAU operates under a regulated e-money framework that aligns with the European Union’s MiCA regulations. The company stated in an email that transitioning to Solana will enhance settlement speeds while reducing transaction costs for euro transactions.
Businesses and developers can now transfer euros onchain within seconds. This capability enables payment providers to execute cross-border payments instantaneously, circumventing traditional banking delays. Furthermore, it facilitates trading, lending, or treasury management using a stable euro unit.
This development mirrors increasing interest in non-dollar stablecoins, particularly in Europe where regulatory-compliant digital assets are sought after. Although U.S. dollar tokens hold the majority of the $300 billion stablecoin market, euro-pegged alternatives have rapidly expanded, doubling to nearly $1 billion since early 2025.
S&P anticipates that the market could reach 570 billion euros ($672 billion) by 2030. French Finance Minister Roland Lescure has advocated for more euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits.
AllUnity emphasized rising demand for regulated euro stablecoins, suggesting that multi-blockchain expansion could boost adoption in both finance and corporate payments sectors.
“As the need for compliant euro stablecoins increases, Solana’s speed and scalability make it an ideal platform for institutional-level settlement and cross-border transactions,” noted Peter Grosskopf, CTO and COO of AllUnity.
AllUnity mentioned that partners such as Bullish (owners of CoinDesk), Privy, Hercle, and Transak are gearing up to utilize EURAU on Solana for payments, trading, and fiat integration.