European fintech firm Revolut has notified customers of its plan to delist Tether's USDT stablecoin, with a final support cutoff set for August 31, 2026. The move stems from the European Union's Markets in Crypto-Assets (MiCA) regulation, which requires stablecoin issuers and crypto service providers to obtain licenses and meet strict reserve, disclosure, and oversight standards. Affected users received alerts via in-app notifications and email, detailing a phased withdrawal timeline.
Key Deadlines: Purchases, Deposits, and Conversion
According to Revolut, customers can continue buying USDT until July 6. After that, new purchases will be blocked. Starting July 30, the platform will no longer accept USDT deposits. Until August 31, users may still sell their USDT or transfer it to supported external wallets. Any USDT remaining in account after the deadline will be automatically converted into the account's base fiat currency, using the token's prevailing market price at the time of delisting.
The company urged customers to review their holdings in advance, noting that the change applies only to users who received the notification. USDT will remain available in jurisdictions where Revolut continues to support it.
MiCA Compliance Drives Delisting
Revolut said the delisting follows regulatory developments under MiCA, which took full effect on July 1. Tether has not obtained a MiCA license for USDT. CEO Paolo Ardoino previously stated that the framework's reserve requirements were not designed for the world's largest stablecoin, citing issues with reserve composition, liquidity management, and redemption rules. As European platforms tighten access to unlicensed stablecoins, Revolut's August 31 deadline gives USDT holders a clear window to liquidate or transfer their positions.