Revolut Ditches USDT for Millions of Users Amid EU Stablecoin Rules

Revolut, Europe's largest fintech with about 65 million users, will stop supporting Tether USDt (USDT) for affected customers after Aug. 31. This decision follows the European Union's Markets in Crypto-Assets framework, known as MiCA, which has strict rules for stablecoin issuers.

The company will automatically convert any leftover USDT balances into each user's base fiat currency at the day's market rate. Revolut notified some customers about this change this week and provided a staggered wind-down timeline.

Customers can keep buying USDT until Jul. 6, but new deposits will not be accepted after Jul. 30. After Aug. 31, any remaining USDT balances will convert into the account's base currency at the prevailing exchange rate.

This move is a result of Revolut securing its own MiCA license from Cyprus securities regulator CySEC in November 2025. However, Tether has not sought similar approval for its dollar-pegged USDT.