Revolut to End USDT Support in Europe as MiCA Rules Reshape Stablecoin Market
Stablecoins
European fintech giant Revolut is discontinuing support for USDT in the region, mandating that users sell or withdraw holdings by August 31, 2026. This decision follows the full implementation of the European Union’s Markets in Crypto-Assets (MiCA) framework, which took effect on July 1, 2026. Tether, the issuer of USDT, opted not to seek MiCA authorization, citing incompatibility between the regulation's reserve requirements and its own management strategy. Consequently, Revolut joins other major platforms like Coinbase, Kraken, and Binance in restricting USDT to comply with the new legal standards. While USDT availability on regulated exchanges is declining, Circle has successfully secured MiCA approval for its USDC and EURC stablecoins. This shift forces a significant liquidity migration within the European market toward compliant assets. Tether continues to maintain a presence in the region by providing its Hadron tokenization platform to support third-party MiCA-compliant stablecoin projects.
Key points
- ▸Revolut users must sell or withdraw USDT holdings by August 31, 2026.
- ▸Tether declined MiCA authorization due to conflicting reserve management requirements.
- ▸Major exchanges including Coinbase and Binance have already restricted USDT in Europe.
- ▸Circle secured MiCA approval for USDC and EURC, capturing increased market share.
Background
Revolut is a global financial technology company offering banking services, currency exchange, and cryptocurrency trading to millions of users. The Markets in Crypto-Assets (MiCA) regulation is the European Union's comprehensive legal framework designed to regulate crypto-asset issuers and service providers to ensure market integrity and consumer protection.
Relevance
8.5/10