Revolut to Remove USDT for European Users Starting Sept. 1
Revolut will delist Tether's USDT after Aug. 31, auto-converting remaining holdings to users' base currencies amid regulatory pressure.
Revolut, the UK-based fintech giant, has begun notifying customers that it will delist USDT — the world's largest stablecoin by market capitalization — effective after August 31, citing regulatory and risk concerns as the primary drivers behind the decision.
Any USDT balances still held on the platform past the deadline will be automatically converted into each affected user's base currency, according to customer notifications reviewed by Cointelegraph. The move eliminates the need for manual action but leaves customers little choice in the matter, raising questions about asset autonomy on centralized platforms.
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The decision aligns with growing pressure across Europe to bring stablecoin issuers and distributors into compliance with the Markets in Crypto-Assets (MiCA) regulatory framework, which sets strict requirements for stablecoin operators serving EU customers. Tether, which issues USDT, has not yet secured a MiCA-compliant license, putting platforms like Revolut in the difficult position of either continuing to offer an out-of-compliance asset or pulling it entirely.
Revolut's move follows similar delistings by other European crypto exchanges navigating the post-MiCA landscape, signaling a broader industry trend that could reshape which stablecoins dominate in European markets. Compliant alternatives, including Circle's USDC, stand to benefit as platforms seek regulated substitutes. The outcome could accelerate a geographic fragmentation of stablecoin liquidity that analysts have been watching closely since MiCA took effect.
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