European fintech giant Revolut has officially confirmed plans to discontinue support for the Tether (USDT) stablecoin. This decision will affect all platform users, and clear timelines have already been set for completing operations with this asset.
Timeline for USDT Support Phase-Out
According to an internal notification received by Revolut clients, USDT purchases will only be available until July 6. Starting from July 30, the platform will completely stop accepting new USDT deposits. However, users will retain the ability to sell the stablecoin or withdraw it to external wallets until August 31.
What Happens After August 31
After the specified deadline, all remaining USDT balances in user accounts will be automatically converted into fiat currency at the prevailing exchange rate. This is a standard procedure for asset delisting, and Revolut is proactively warning clients to manage their funds independently before the deadline.
Analysis and Conclusions
Revolut's move is not an isolated case. More and more European financial platforms are reassessing their policies regarding USDT, given the regulatory pressure under MiCA and the growing risks associated with the transparency of Tether's reserves. For users, this is a signal: diversifying stablecoins and transitioning to more regulated alternatives, such as USDC or EURC, is becoming not just a recommendation but a necessity.
In my opinion, Revolut is acting preemptively, seeking to minimize legal risks and comply with future requirements of European regulators. Investors should carefully consider these deadlines to avoid forced conversion at an unfavorable rate.