Revolut to Discontinue Support for Tether (USDT) by August 31

Revolut, a prominent European fintech platform, will stop supporting Tether (USDT) stablecoin effective August 31, 2026. This decision follows the full implementation of the Markets in Crypto-Assets (MiCA) regulation on June 30, which imposes licensing requirements on crypto firms operating within the EU.

Details of the USDT Delisting

According to reports, Revolut has communicated the changes to users through app notifications and emails. Users will still be able to purchase Tether (USDT) until July 6, 2026, but from July 30, Revolut will no longer accept new deposits of the stablecoin. Users will maintain the ability to sell USDT or withdraw it to external wallets up until the end of August.

Impact on User Balances

Following the August 31 deadline, any USDT remaining in user accounts will automatically convert into fiat currency at the prevailing exchange rate. This change is part of a broader trend, as various platforms reassess their supported tokens in compliance with new regulatory requirements.

Context of MiCA Regulation

The MiCA regulation is designed to establish a comprehensive regulatory framework for digital assets in the European Union, necessitating that firms in this space obtain explicit licenses to operate. Notably, Tether has not sought e-money authorizations required under this regulation, contributing to the decision of major exchanges, including Revolut, to delist the stablecoin for users within the European Economic Area.

As the cryptocurrency landscape evolves in response to regulatory developments, industry observers anticipate further adjustments from other platforms regarding their offerings. This decision signals a significant shift in how cryptocurrencies will be managed and accessed across Europe.