Revolut Ditches USDT Amid Europe's Tightened Stablecoin Rules

Revolut, a leading fintech company in Europe, has announced it will delist Tether's USDT from its platform for customers in the European Economic Area (EEA). This decision comes after the end of the transition period for the EU's Markets in Crypto-Assets (MiCA) regulation on July 1. The new rules require crypto service providers to obtain regulatory authorization for supported digital assets, which Tether has not obtained.

Revolut will gradually remove support for USDT over the coming weeks. Customers can continue purchasing USDT until July 6, but new deposits will no longer be accepted after July 30. Existing holders will retain the ability to sell or withdraw their USDT to external wallets until August 31.

The delisting follows Revolut's expansion of its regulated crypto business across Europe after securing a MiCA license. The company highlighted its MiCA-compliant crypto offerings, including its main crypto platform and Revolut X, which provides more than 400 trading pairs and low trading fees for eligible European users.