Revolut Axes Tether USDt in EU Following MiCA Rules

Revolut, Europe's largest fintech with about 65 million users, has announced that it will delist Tether USDt (USDT) from its platform after August 31, 2026. The move follows the European Union's Markets in Crypto-Assets framework (MiCA), which forces providers to only offer stablecoins whose issuers have met the regulation's authorization requirements.

Tether has never sought MiCA e-money approval for its dollar-pegged USDT, with its CEO Paolo Ardoino criticizing the reserve rules that would force large issuers to park much of their backing in EU bank deposits. Revolut secured its own MiCA license from Cyprus securities regulator CySEC in November 2025, allowing it to run regulated crypto services across roughly 30 European countries.

The delisting will affect customers who have leftover USDT balances after August 31. Any remaining balances will be automatically converted into each user's base fiat currency at the day's market rate. Customers can keep buying USDT until July 6, and Revolut will stop accepting new deposits on July 30.