Solana news: Germany’s AllUnity expands EURAU to Solana as euro stablecoins gain traction
AllUnity, a joint venture backed by DWS, Flow Traders and Galaxy Digital (GLXY), took its euro-backed stablecoin, EURAU, to the Solana blockchain, extending the tokens reach to a high-speed network often used for payments and trading. EURAU, which debuted last July on Ethereum, is fully reserved and issued under a regulated e-money framework aligned with the European Unions 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 move euros onchain in seconds. Payments firms, for example, could send cross-border payouts to contractors in real time instead of waiting days for bank transfers, and the same mechanism can also support trading, lending or treasury management using a stable euro unit. The move reflects growing interest in non-dollar stablecoins, especially in Europe, where firms seek digital assets that meet regulatory standards. While U.S. dollar tokens dominate the $300 billion stabelcoin market, euro-pegged tokens have seen rapid growth, doubling since the start of 2025 to almost $1 billion. The S&P projected the market could reach 570 billion euros ($672 billion) by 2030. French Finance Minister Roland Lescure called for more euro-denominated stablecoins and urged