Tether’s USDT will no longer be available to Revolut’s European customers as of August 31, 2026, after the company decided to end direct access to the cryptocurrency amid tightening market regulations.
According to the company’s client notification, this step was based on a periodic evaluation of the assets it supports. Revolut also cited “regulatory and risk considerations” as a factor responsible for delisting the USDT token.
The liquidation will take place in stages until August. It starts on July 6 at 12:00 PM GMT, when the buy button stops working. After that, no new deposits will be allowed from July 30.
The last cutoff day is August 31, when any remaining USDT will be converted into the account’s base currency at that day’s market rate.
Why Revolut can no longer list USDT
Revolut now falls into its own compliance. In November 2025, Revolut obtained a MiCA Crypto Asset Service Provider license from CySEC, the securities regulatory body in Cyprus, enabling it to offer regulated crypto services in around 30 European countries.
Under MiCA, the license prohibits Revolut from listing any stablecoin whose issuer has not passed the MiCA license. In this case, Tether chose not to do so.
MiCA treats tokens backed by fiat currencies as tokens for electronic money and It requires large exporters to hold at least 60% of reserves as deposits in EU banks.
Paolo Ardoino, CEO of Tether, said:
This type of structure adds liquidity risk rather than removing it. Also, small European banks may struggle if millions of users redeem USDT at once.
Instead of adapting, Tether divested its euro-denominated stablecoin, EURT, in November 2024. The MiCA transition period, which allowed existing cryptocurrency companies to continue operating under old licenses, Expired on July 1, 2026.
Revolut’s approach to reducing its support for USDT in Europe appears to have been timed around this regulatory cut.
Revolut initially expanded USDT support, then reversed course
The delisting marks a sharp reversal from Revolut’s own product push in late 2025, when it offered 1:1 USD conversions for USDT and USDC, along with fee-free stablecoin swaps within specified limits.
Max Karpis, one of Revolut’s early investors according to his X-verified bio, marked the switch on July 2.
Revolut will remove USDT from the list on August 31, 2026 (for regulatory/risk reasons).
Not long ago, they expanded support to include fee-free transfers and 1:1 USDT/USDC swaps.
Now reverse.
Compliance strikes again. #encryption #USDT pic.twitter.com/eJ5mV0qrMi
– Max Karpis (@maxkarpis) July 2, 2026
Europe’s major stock exchanges had already moved first
Revolut is a late arrival to a transformation that began more than a year and a half ago. Coinbase drops USDT for European users in December 2024. As Cryptopolitan reported earlierKraken has removed USDT and four other stablecoins across the European Economic Area by March 31, 2025, along with… crypto.comExit and remove previous OKX.
Binance restricted the affected pairs through the first quarter of 2025. Revolut held out longer because its cryptocurrency arm was not yet fully licensed. Once you obtain a CySEC license, holding USDT is no longer an option.
Per Cointagthe register of ESMA-approved providers has been sharply consolidated since the MiCA takeover. These removals are not considered forfeiture. according to encryption times, MiCA does not freeze holdings, and the European Securities and Markets Authority said users reserve the right to hold their USDT, move it outside the platform, or convert it themselves.
USDC takes the path of a regulated stablecoin
The primary beneficiary will be Circle itself, whose USDC and EURC are MiCA compliant and remain listed on licensed platforms. They will therefore be ready to capture European demand that USDT is no longer able to serve.
Globally, the two stablecoins are not close to each other. USDT is trading near $0.9992 with a market cap of about $184 billion and about $33.04 billion in daily volume as of July 4, versus USDC’s market cap of about $73 billion and daily trading volume of $5.7 billion. For Quinn Gekko.
Within the European Union, only one of them is a legal product in licensed premises.
