Revolut Ditches USDT for Millions of Users Amid EU Regulatory Pressure
Revolut has announced that it will stop supporting Tether's USDT stablecoin for its users by August 31, 2026. This decision is a result of the European Union's Markets in Crypto-Assets (MiCA) framework, which requires issuers to meet specific authorization requirements.
The London-based fintech company has notified some customers about the change, which will affect users with remaining USDT balances. These balances will be automatically converted into each user's base fiat currency at the prevailing exchange rate on August 31.
Revolut secured its MiCA license from Cyprus securities regulator CySEC in November 2025, allowing it to run regulated crypto services across approximately 30 European countries. However, Tether has not sought similar approval for USDT, with its CEO Paolo Ardoino criticizing the MiCA reserve rules as potentially creating systemic risk.