Revolut Axes Support For USDT Amid EU Regulatory Pressure

Revolut has announced it will stop supporting Tether's USDT stablecoin for its users after August 31, due to the European Union's Markets in Crypto-Assets (MiCA) framework. The London-based fintech company, which has around 65 million users, will automatically convert any leftover balances into each user's base fiat currency at the day's market rate.

The move follows Revolut securing 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. However, Tether has not sought similar approval for USDT, and its CEO Paolo Ardoino has defended this position by criticizing MiCA's reserve rules.

Under the EU's stablecoin regulations, a fully licensed provider can no longer offer a stablecoin whose issuer has not cleared the regulation's authorization requirements. Revolut will stop accepting new deposits of USDT on July 30 and will no longer support purchases from July 6. Any balance sitting in affected accounts past August 31 will convert into the account's base currency at the prevailing exchange rate.

This decision comes after Coinbase, Binance, Kraken, Crypto.com, and OKX had already delisted USDT in early 2025 due to regulatory compliance issues. The removal of USDT from Revolut's platform may have a significant impact on users who hold the stablecoin, as it is one of the largest cryptocurrencies by market value.