Revolut Ditches USDT Ahead of EU's MiCA Deadline

Revolut, Europe's largest fintech by valuation, has begun notifying customers that it will delist Tether's USDT. The move is in anticipation of the EU's Markets in Crypto-Assets (MiCA) regulation, which requires stablecoins to be registered as e-money tokens.

The timeline for the delisting shows a phased wind-down: USDT purchases are allowed until July 6, new deposits stop on July 30, and selling and withdrawals remain open until August 31. After that, any remaining balances will be converted into fiat at the prevailing market rate.

Revolut's decision is not accidental; it's a preemptive measure to avoid legal risk under MiCA's stablecoin provisions. USDT has not registered as a compliant e-money token, putting licensed European platforms that list it at risk. In contrast, Circle's USDC has received the green light.

The result is a split market where compliant stablecoins can plug into regulated payment rails, while non-compliant ones face a shrinking footprint on established platforms. The move could accelerate a broader retreat from USDT across European exchanges and neobanks.