Revolut announces the delisting of USDT: key dates and implications for users
European fintech giant Revolut has officially announced the discontinuation of support for Tether's USDT stablecoin. This decision takes effect in stages, and users must adhere to the established deadlines to avoid forced asset conversion.
According to the updated terms, purchasing USDT on the platform will only be available until July 6. Starting July 30, Revolut will completely stop accepting new deposits in USDT. Meanwhile, clients will be able to sell the stablecoin or withdraw it to external wallets until August 31. After this date, all remaining USDT balances in accounts will be automatically converted to fiat currency at the exchange rate in effect at the time of conversion.
This move by Revolut reflects a broader trend among regulated financial institutions in Europe, which are seeking to minimize risks associated with unbacked stablecoins. Against the backdrop of tightening MiCA (Markets in Crypto-Assets) regulations, many platforms are revising their policies regarding USDT, favoring more transparent and regulated alternatives such as USDC or EURC.
Analytical commentary: The delisting of USDT by a major player like Revolut is not just a technical update but a signal to the market. I expect other European platforms to follow this example in the coming months. For users, this means the need to diversify their stablecoin reserves and prepare in advance for a transition to more regulated assets to avoid losses during forced conversion.