Revolut to end support for Tethers USDT by August 31, customers say

Revolut is set to remove Tether ($USDT) from its crypto offering, according to screenshots of customer notifications shared by multiple crypto users on X.

The notice states that the UK-based fintech will complete the removal of the stablecoin on August 31, 2026, at 12:00 PM GMT. After that date, users will no longer be able to hold $USDT balances in their Revolut accounts.

Customers wishing to keep or liquidate their holdings are encouraged to act before the deadline by either selling their $USDT through Revolut or withdrawing it to an external crypto wallet.

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According to the company, the decision follows a routine review of the assets offered on its platform and was made based on regulatory and risk considerations aimed at maintaining a secure and responsible trading experience.

As part of the phased rollout, Revolut said purchases of $USDT will be disabled from July 6, 2026, at 12:00 PM GMT, ahead of the tokens complete removal later in the summer.

Several major crypto platforms, such as Coinbase and Bitstamp, have delisted or begun phasing out $USDT for European users as they adapt to the EUs Markets in Crypto-Assets Regulation (MiCA) framework.

The move reflects efforts to comply with the blocs new rules governing stablecoins and crypto service providers, with exchanges increasingly favoring assets they consider MiCA-compliant. Platforms have directed users toward alternatives such as USD Coin (USDC) and euro-backed stablecoins like EURC.

Tether CEO says MiCA rules could increase stablecoin risk

Tether CEO Paolo Ardoino believes the MiCA regulation could leave stablecoin issuers more exposed to bank failures during periods of heavy redemptions.

In previous statements, Ardoino stressed that the concern is not regulatory oversight but MiCAs potential requirement that issuers hold up to 60% of reserve assets in uninsured bank deposits rather than highly liquid assets like US Treasury bills.

He warned that smaller European banks may be unable to cope with mass redemption events if millions of users cash out their $USDT at the same time. For that reason, Ardoino said Tether opted against seeking MiCA approval, citing the need to safeguard its global user base.