Revolut has notified some customers that it will delist the stablecoin USDT (Tether) from its platform. Buying USDT will no longer be possible starting July 6, USDT deposits will stop being accepted on July 30, and full delisting is scheduled for August 31, 2026. The company explained the move with "regulatory and risk considerations," without naming a specific rule.
If customers don't sell or withdraw their USDT by the end of August, Revolut will automatically convert the remaining balance into the account's base currency at that day's exchange rate. As of publication, USDT remains the third-largest crypto asset by market capitalization after Bitcoin and Ethereum, with a market value of $184 billion.
Three dates USDT holders on Revolut need to remember
The timeline for the restrictions stretches out over almost two months. From July 6, 2026, buying USDT through the Revolut app will no longer be available. From July 30, the company will stop accepting new USDT deposits, meaning any incoming transfers of the token will be rejected. The final cutoff comes on August 31, when the token disappears from the platform entirely.
Anyone holding USDT specifically on Revolut needs to either sell the asset or move it to an external wallet or an exchange such as Binance, where USDT trading continues without restrictions. Otherwise the conversion happens automatically, and the customer loses control over the exchange rate and timing of the swap.
Why Revolut isn't naming an exact reason
Revolut, a UK-based neobank with crypto features, was granted a MiCA CASP license in November 2025. It was issued by Cyprus's CySEC, and the record appears in the European Securities and Markets Authority's (ESMA) register, meaning the license is publicly checkable, which is exactly why every move the company makes draws close scrutiny from regulators and reporters alike. Despite that, the company hasn't clarified whether the delisting applies to all jurisdictions or only specific markets, and it didn't respond to a request for comment on the details.
The phrase "regulatory and risk considerations" leaves plenty of room for interpretation. It could point to direct pressure from a specific supervisory body, or just as easily reflect an internal call by Revolut's own compliance team to act early rather than wait for a formal order.
Tether and MiCA: a fight that's been going on since 2024
The story of USDT delistings in Europe started long before Revolut. Back in 2024, exchanges like Coinbase began pulling USDT from European listings to comply with MiCA requirements. Tether has flatly refused to meet part of the regulation, including the rule requiring part of reserves to be held with EU credit institutions.
"I think it's a very not well thought legislation."
- Paolo Ardoino, CEO of Tether, from a Cointelegraph interview, May 2025
Ardoino has repeatedly criticized MiCA's reserve requirements, arguing they put the stablecoin at a disadvantage compared with competitors registered in an EU jurisdiction. The company's stance hasn't shifted since, and that refusal is exactly why CASP providers keep pulling USDT from their platforms one after another.
The regulatory logic looks different in the US. The GENIUS Act, passed there, doesn't require stablecoin reserves to sit specifically with European credit institutions, so this fight is largely confined to the EU market. For Tether, that means the company can keep growing in the US and Asia even as it loses ground on European platforms.
How big USDT is, and who stands to gain
The token's scale makes every delisting like this a notable market event. USDT remains the third-largest crypto asset by market cap, behind only Bitcoin and Ethereum. Its main rival, Circle's USDC, is considerably smaller, but stablecoins like it that are registered under MiCA are the ones gaining ground on European platforms.
What USDT holders should do before the end of August
The safest option for Revolut customers holding USDT is not to wait for the automatic conversion, but to decide what to do with the asset well ahead of time. The automatic conversion happens at a rate Revolut sets itself, and the customer has no say over either the day of the swap or the specific rate applied.
- Check whether the delisting actually applies to your account, since Revolut only sent the notice to some customers.
- Move USDT to an external wallet or exchange before July 30, while deposits are still working.
- Consider USDC as an alternative if you need a stablecoin that complies with MiCA.
- Anyone planning to exit the position entirely could look at options to sell USDT for hryvnia before the automatic conversion kicks in, to control the rate and timing themselves.
Before converting anything, it's worth comparing rates across several exchange offices, since the spread between offers can run to several percent even within a single day, especially on amounts in the thousands of dollars.
Regulatory pressure on USDT in Europe keeps building
The Revolut case shows that the standoff between Tether and European regulators didn't end in 2024, and it keeps shaping decisions at new platforms. The company got its CASP license less than a year ago and is already adjusting its list of supported assets to fit MiCA. Until Tether changes its approach to reserves, similar moves from other banks and exchanges operating in Europe look fairly likely.
For the market as a whole, this looks more like slow erosion than a sudden collapse. USDT isn't disappearing globally. A $184 billion market cap and third-largest-asset status speak for themselves. But the list of European platforms where the token trades without restrictions keeps shrinking, and customers are better off watching for notices like this one ahead of time rather than reacting after the delisting is already final.
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