Revolut Axes Tether Support Amid European MiCA Crackdown

Revolut, Europe's largest fintech with about 65 million users, is delisting Tether USDt (USDT) for affected customers after August 31. The move comes as a result of the European Union's Markets in Crypto-Assets framework, known as MiCA, which requires stablecoin issuers to obtain regulatory approval.

The company will stop supporting USDT on August 31, and any leftover balances will automatically convert into each user's base fiat currency at the day's market rate. Customers can keep buying USDT until July 6, but new deposits will be stopped on July 30.

Revolut secured its 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 declined to meet the regulation's authorization requirements for USDT.