Revolut, the London-based crypto neobank with an estimated 40 million global users, has notified its European customers that it will delist Tether’s USDT stablecoin. The move is a direct response to the European Union’s Markets in Crypto-Assets (MiCA) regulation, which now mandates strict compliance for stablecoin issuers operating within the bloc.
The in-app notice outlines a phased timeline. Users can continue purchasing USDT until July 6. After that date, buying will be halted. Beginning July 30, Revolut will stop accepting new USDT deposits. The final deadline is August 31 at 12:00 p.m. UTC, by which all holders must either sell their USDT or transfer the tokens to an external wallet. Any USDT remaining in Revolut accounts after the deadline will be automatically converted into fiat currency at prevailing market rates, likely to the user’s primary account currency.
The decision stems from Tether’s failure to meet MiCA’s requirements for reserve asset disclosure, independent audits, and liquidity management. USDT, the world’s largest stablecoin by market capitalization with over $110 billion in circulation, has not received MiCA authorization. Tether CEO Paolo Ardoino has previously argued that the framework’s reserve-related rules are not suited to the scale and structure of USDT.
Revolut’s action follows similar moves by other major platforms. Coinbase, Binance, and Kraken have already restricted or delisted USDT for European Economic Area users as the July 1 MiCA enforcement measures came into effect. This coordinated shift is reshaping the European stablecoin landscape, with compliant alternatives such as Circle’s USDC and euro-pegged tokens gaining market share.
The delisting only affects users in the EEA. Revolut clarified that access to USDT will remain unchanged in jurisdictions where the stablecoin continues to be supported. Meanwhile, Tether remains under scrutiny elsewhere: it recently froze USDT balances in 131 TRON wallets after U.S. sanctions targeted addresses linked to ISIS-K, demonstrating the company’s ability to act under regulatory pressure—though this action is unrelated to MiCA.
