Europe’s Fintech Giant Revolut To Delist Tether USDT After MiCA License Fallout
Highlights
- Revolut has announced the delisting of Tether's USDT in Europe.
- The users have time till August 31, 2026 to sell or withdraw their USDT assets.
- If the assets remain on Revolut after the deadline, its policy states that it will be converted into the base fiat currency linked to the user's account.
The fintech giant of Europe, Revolut, has announced the delisting of Tether’s USDT stablecoin. This move hinges on regulatory changes under the European Union’s Markets in Crypto-Assets (MiCA) framework affecting the crypto industry.
Revolut Moves To Delist Tether’s USDT
The company has sent out emails to users with a timeline to sell their USDT before it is withdrawn from eligible accounts.
As explained in the notice, Revolut said, “We’re delisting USDT from our crypto offering.” It also warned users that “From 31 August 2026 12:00 PM GMT, you’ll no longer be able to hold USDT in your Revolut account.”
It will be rolled out in phases. Customers will be able to keep buying USDT until July 6th. After 30th July, the new USDT deposits will not be accepted. Users will continue to be able to sell their tokens or send them to supported external crypto wallets until Aug. 31.
Revolut also urged customers to “Review your holdings before 31 August 2026 12:00 PM GMT.” This provides a couple of weeks for them to consider their options.
If you still have USDT in eligible accounts at the end of the deadline, they will no longer be in crypto. According to Revolut’s crypto delisting policy, any remaining balance will be automatically converted to the base currency that the account is denominated in at the market price of USDT when the delisting is activated.
Tether’s MiCA License Setback
Revolut’s decision comes in response to stricter implementation of EU’s MiCA regulations. Stablecoin issuers and crypto services in the bloc must now adhere to new licensing, reserve, disclosure and supervisory requirements.
Tether has not been granted a MiCA licence for USDT. Previously, Tether CEO Paolo Ardoino had said that the framework was not designed for the world’s largest stablecoin due to MiCA’s requirement for reserves. This raised questions around the stablecoin reserve composition, liquidity management, and redemption risks.
Following the July 1st enforcement date of MiCA, Revolut joins the growing list of platforms restricting customers’ access to USDT in Europe. Also, it’s important to note that these restrictions will only affect notified users of Revolut. Hence, it will not impact on the availability of USDT in the jurisdictions in which the stablecoin remains supported.
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