Digital banking platform Revolut has recently informed its users that it will cease support for Tether's USDT stablecoin, with a complete delisting scheduled for August 31, 2026. This decision, communicated through customer notices, stems from a comprehensive evaluation of regulatory policies and internal risk management considerations.

The phased removal of USDT from Revolut's platform will begin with restrictions on new purchases. Users will no longer be able to buy USDT starting July 6, 2026. Following this, the ability to deposit USDT into Revolut accounts will be suspended after July 30, 2026, with any incoming transfers after this date being automatically rejected. The final step in this process will occur on August 31, 2026, when all remaining USDT holdings in user accounts will be automatically converted into the user's base currency at the prevailing exchange rate of that day.

While Revolut's official communications cited general “regulatory and risk considerations,” the move is widely understood within the industry to be influenced by the European Union's Markets in Crypto-Assets (MiCA) regulation. Revolut, a UK-headquartered fintech, obtained a MiCA license as a crypto-asset service provider (CASP) in November 2025, issued by the Cyprus Securities and Exchange Commission (CySEC). This licensing increases the importance of aligning its crypto offerings with European regulatory expectations.

MiCA as a Reason For Revolut Delisting USDT

The MiCA framework, which began impacting stablecoin access in Europe in 2024, has prompted several crypto platforms, including Coinbase and Bitstamp, to reassess their support for USDT. Tether, the issuer of USDT, has reportedly chosen not to comply with certain aspects of MiCA, particularly regarding reserve requirements that mandate a portion of reserves to be held with EU credit institutions. Tether's CEO, Paolo Ardoino, has previously voiced concerns that MiCA's rules could potentially increase stablecoin risk by requiring issuers to hold significant reserves in uninsured bank deposits rather than highly liquid assets like US Treasury bills.

This delisting by Revolut underscores a broader trend among regulated financial technology companies and crypto service providers in Europe. As the regulatory landscape for digital assets matures, platforms are increasingly prioritizing compliance and risk mitigation. The decision highlights the challenges faced by stablecoin issuers that do not align with evolving regulatory standards, even for tokens with significant market capitalization like USDT. For Revolut users, the immediate impact necessitates action: they must either sell their USDT or transfer it to an external wallet before the August 31 deadline to avoid automatic conversion.

Original announcement: Cointelegraph