AllUnity, a joint venture backed by DWS, Flow Traders and Galaxy Digital (GLXY), has transferred its euro-backed stablecoin, EURAU, to the Solana blockchain, extending the token’s reach to a high-speed network often used for payments and commerce.
EURAU, which debuted last July on Ethereum, is fully reserved and issued under a regulated e-money framework aligned with the European Union’s MiCA rules, the company said in an emailed statement. By adding Solana, AllUnity aims to offer faster settlement and lower transaction costs for euro-denominated transfers.
The setup allows businesses and developers to transfer euros on-chain in seconds. Payment companies, for example, could send cross-border payments to contractors in real time instead of waiting days for bank transfers, and the same mechanism can also support trading, lending or cash management using a stable euro unit.
The move reflects 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 estimated $300 billion stablecoin market, euro-pegged tokens have grown rapidly, doubling since the start of 2025 to nearly $1 billion.
The S&P predicts 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 token deposits.
AllUnity also highlighted that demand for regulated euro stablecoins is increasing and that expansion across multiple blockchains could contribute to wider adoption in financial and enterprise payments.
“As demand for compliant euro stablecoins accelerates, Solana’s speed and scalability make it a natural environment for institutional-grade settlements and cross-border payments,” said Peter Grosskopf, CTO and COO of AllUnity.
AllUnity said several partners, including Bullish (owner of CoinDesk), Privy, Hercle and Transak, are preparing to use EURAU on Solana for fiat payments, exchanges and on-ramps.
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