Revolut Axes USDT Support Amid MiCA Compliance Obligations

Revolut, one of Europe's largest fintech providers, will discontinue support for Tether's USDT stablecoin on August 31, 2026. This decision stems from compliance obligations under the European Union's Markets in Crypto-Assets (MiCA) framework.

The fintech giant secured its MiCA authorization through Cyprus's financial watchdog, CySEC. Under the terms of this license, Revolut must exclusively offer stablecoins issued by entities that have also obtained MiCA approval. Since Tether has declined to apply for such authorization, USDT cannot remain available on Revolut's infrastructure.

The platform has begun alerting its user base through email communications and in-app notifications. The phase-out will proceed according to a specific timetable: purchasing capabilities for USDT will cease on July 6, followed by the end of new deposits on July 30. Users who do not transfer their holdings to an external wallet or self-custodial solution before August 31 at 12:00 PM GMT will see their USDT automatically converted to fiat currency based on prevailing market rates.

Tether CEO Paolo Ardoino has voiced concerns that MiCA's stipulation requiring major issuers to maintain approximately 60% of reserves in EU banking institutions could introduce systemic vulnerabilities. He has suggested Tether will prioritize expansion in alternative jurisdictions.