Revolut, the UK-headquartered crypto-friendly digital banking platform, has notified select customers that it will remove Tether USDt (USDT) from its platform in August, pointing to ‘regulatory and risk considerations’ as the driver behind the decision.
Key Dates and Mechanics
According to a customer notice reported by Cointelegraph, Revolut’s USDT exit follows a staged timeline:
- USDT purchases halted from July 6, 2026
- USDT deposits rejected after July 30, 2026
- Full delisting completed on August 31, 2026
Any USDT holdings that remain on the platform after the August 31 deadline will be automatically converted into each user’s base currency at the prevailing exchange rate on that day, the company stated.
Revolut Stays Vague on the Exact Regulation
Revolut has declined to specify whether the delisting applies globally or is limited to particular jurisdictions. The company’s notice cited only ‘regulatory and risk considerations’ without naming any specific legal framework that triggered the action.
Revolut received a MiCA licence as a crypto asset service provider (CASP) in November 2025. That licence was issued by the Cyprus Securities and Exchange Commission (CySEC) and is registered with the European Securities and Markets Authority (ESMA). The company did not respond to requests for comment on the geographic scope of the delisting before publication.
Tether’s Refusal to Comply With MiCA Is the Wider Context
Revolut’s move fits into a pattern that has been building across European crypto platforms since late 2024. Tether, the issuer of USDT, has publicly refused to seek MiCA compliance. The regulation requires stablecoin issuers to hold a portion of their reserves with EU credit institutions, a condition Tether CEO Paolo Ardoino has strongly opposed.
‘I think it’s a very not well thought legislation,’ Ardoino told Cointelegraph in a May 2025 interview.
Coinbase began delisting USDT in Europe in 2024 to align with MiCA requirements, and Revolut’s action suggests the trend is continuing across major fintech platforms holding EU licences.
USDT’s Market Position
Despite the European pressure, USDT remains the third-largest crypto asset globally by market capitalisation, trailing only Bitcoin and Ether, with a market value of $184 billion at the time of publication. Its nearest stablecoin rival, Circle’s USDC, holds a $73 billion market cap and ranks fifth among all crypto assets, according to CoinGecko.
