Key facts
- Revolut is delisting Tether USDt (USDT) for customers in the European Economic Area (EEA) and Switzerland.
Revolut will discontinue support for Tether's USDT stablecoin for customers in the European Economic Area and Switzerland, citing evolving EU regulatory frameworks under MiCA. The delisting follows a review of its crypto services and risk considerations.
Revolut's decision to delist USDT in the EEA and Switzerland highlights the impact of the EU's MiCA regulation on stablecoin availability and reflects a growing trend of crypto platforms adapting to stricter regulatory environments in key markets.
Revolut has announced that it will discontinue support for Tether's USDt stablecoin for customers located in the European Economic Area (EEA) and Switzerland. The digital banking platform cited a periodic review of its cryptocurrency offering and evolving regulatory frameworks, specifically the European Union's Markets in Crypto-Assets Regulation (MiCA), as the reasons for this decision.
While the delisting impacts customers in these specific European regions, Revolut confirmed that support for USDT will remain unchanged in other global markets. This move aligns with a broader trend observed across the EU, where crypto platforms have been phasing out USDT following Tether's decision not to pursue authorization under the MiCA framework.
The delisting process for Revolut's EEA customers began earlier with the removal of USDT from its Revolut X trading platform. The latest announcement signifies the completion of this removal from its EEA retail offering. Notably, Switzerland, while not part of the EU or EEA, was also included in the markets affected by Revolut's decision, though the company did not elaborate on the specific reasons for its inclusion.
MiCA is a significant EU regulation designed to harmonize crypto-asset rules across the EEA, which includes EU member states as well as Norway, Iceland, and Liechtenstein. Revolut, headquartered in the United Kingdom, initially launched its crypto trading services in 2017 and expanded its offerings to EEA countries in 2024.