Digital bank Revolut will delist Tether USDt (USDT) for affected customers after Aug. 31, automatically converting any leftover balances into each user’s base fiat currency at the day’s market rate.
Key Points:
- Revolut will stop supporting USDT on Aug. 31, 2026, with purchases ending Jul. 6.
- Remaining USDT balances convert automatically into each user’s base fiat currency.
- The move follows the EU’s MiCA rules, which Tether declined to meet.
Revolut USDT Delisting Timeline
The London-based company, Europe’s largest fintech with about 65 million users, notified some customers this week. The staggered wind-down gradually strips support for the world’s biggest stablecoin across Revolut’s European app over the coming weeks. Revolut has not clarified whether the removal applies worldwide or only across certain jurisdictions.
Customers can keep buying USDT until Jul. 6, and Revolut will stop accepting new deposits on Jul. 30, ahead of the final Aug. 31 cutoff. Any balance sitting in affected accounts past that deadline will convert into the account’s base currency at the prevailing exchange rate, the company said.
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Ardoino Rejects MiCA Reserves
The move flows directly from the European Union’s Markets in Crypto-Assets framework, known as MiCA, whose transition period into full enforcement closed on Jul. 1. Under those rules, a fully licensed provider can no longer offer a stablecoin whose issuer has not itself cleared the regulation’s authorization requirements. Revolut secured its own MiCA license from Cyprus securities regulator CySEC in November 2025, clearing it to run regulated crypto services as an authorized provider across roughly 30 European countries.
That authorization is exactly what forces the delisting, since Tether has never sought the same MiCA e-money approval for its dollar-pegged USDT. Its chief executive, Paolo Ardoino, has defended that position for months.
He has criticized MiCA’s reserve rules, which would force large issuers to park much of their backing in EU bank deposits, warning the requirement could itself create systemic risk. Circle‘s USDC (USDC) and its euro-backed EURC (EURC), by contrast, are among the few major stablecoins positioned to absorb regulated European demand by default. Individuals can still hold USDT and move it to self-custody wallets, because MiCA restricts listing by regulated venues rather than personal ownership of the token.
USDT European Exodus Widens
USDT has steadily lost ground on regulated European venues since enforcement of the bloc’s stablecoin rules first began in late 2024. Coinbase pulled the token that December, and Binance, Kraken, Crypto.com and OKX followed through early 2025.
Even now, USDT remains the third-largest crypto asset by market value, worth roughly $184B. That figure still towers over Circle’s $73B USDC across the broader market. Inside the European Union, though, compliance rather than sheer market size now decides which stablecoins a licensed platform is permitted to list.
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