Revolut has told users it will fully remove USDT by August 31, 2026. The deadline gives account holders a defined period to deal with their balances before any remaining USDT on the app is automatically converted into fiat currency at the prevailing exchange rate.
MiCA stablecoin rules are forcing the change
The move is tied to the European Union's Markets in Crypto-Assets regulation, or MiCA. According to the source material, full stablecoin enforcement begins on July 1, 2026. Under those rules, platforms are limited to tokens that satisfy strict standards, issuers must maintain full 1:1 reserves in safe assets, submit to monthly audits, and grant immediate redemption rights. A significant share of reserves must also be held in European banks.
Tether, the issuer of USDT, did not adopt that framework. Tether CEO Paolo Ardoino criticized the setup, arguing that it pushes stablecoin issuers into excessive dependence on traditional banks. He also warned that, in a crisis, this structure could create stress across several banks at the same time.
Revolut now operates with a MiCA license through Cyprus, which leaves it little room to keep listing non-compliant stablecoins. Coinbase had already removed USDT for EEA users in December 2024, and Revolut is now making the same adjustment.
What users need to do before the cutoff
For European customers, the practical effect is simple. A familiar in-app route for holding USDT is going away. Users who still hold the token will have to sell it, withdraw it to an external wallet, or allow the platform to convert it automatically after the deadline. The source also outlines a sequence of operational changes: USDT purchases on the app will stop, new USDT deposits will no longer be accepted, and later both selling and external withdrawals will close. Any balance left after that point will be exchanged into fiat based on market pricing at the time.
Anyone who wants to keep holding USDT after August 31, 2026 needs to move it off Revolut before that date. Balances left on the app will not remain in USDT form.
Liquidity is shifting toward MiCA-compliant stablecoins
This is part of a broader reset in the European market. The source notes that Kraken moved USDT to a sell-only model before completing a delisting for EEA clients in April 2026. Binance had already restricted USDT trading pairs for European users in March 2025. As more regulated venues take the same route, volume is being redirected toward compliant products such as Circle's USDC, while liquidity is being spread more unevenly across the stablecoin sector.
Revolut, for its part, plans to use its MiCA license to expand crypto services across 30 EEA markets. That may include support for more tokens, added features through Revolut X, and discussion around a possible in-house stablecoin in the future. The source also states that Crypto.com delisted USDT in January 2025, with OKX following later. By mid-2026, more than a dozen regulated platforms had aligned with MiCA, cutting USDT's presence on licensed European exchanges from a dominant position to a much smaller one.
The direction of travel in Europe is clear from these platform decisions. Licensed exchanges and fintech apps are narrowing their token lists, and regulated crypto markets are moving toward assets that fit stricter transparency and compliance standards. Inside that environment, USDT's role keeps shrinking.