Revolut to Drop USDT Access for Users Starting September
Revolut will delist Tether's USDT stablecoin after Aug. 31, automatically converting remaining holdings to users' local currency.
Revolut, the London-based fintech giant, will remove support for Tether's USDT stablecoin from its platform effective after August 31, the company confirmed in notices sent to affected customers. The move marks one of the most significant actions by a major retail financial app against the world's largest stablecoin by market capitalization, citing regulatory and risk concerns as the driving force behind the decision.
Users who still hold USDT on the platform past the deadline will have their balances automatically converted into their account's base currency, meaning they won't need to manually liquidate their positions before the cutoff. Revolut did not specify which regulatory frameworks or risk factors triggered the delisting, but the decision lands amid intensifying global scrutiny of stablecoins and ongoing regulatory uncertainty in both the UK and European Union.
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Tether's USDT has long drawn skepticism from regulators and compliance-focused financial institutions over questions about reserve transparency and its potential use in illicit transactions. For a company like Revolut — which holds banking licenses across multiple jurisdictions and is actively pursuing broader regulatory credibility — distancing itself from USDT could reflect a calculated effort to align with evolving compliance expectations rather than a response to any single rule.
The delisting affects Revolut's crypto offering at a time when the firm is simultaneously expanding its services globally and seeking regulatory approvals in new markets. How this move is received by Revolut's crypto-active user base, many of whom rely on USDT as a stable store of value within the app, remains to be seen. Users are advised to review their holdings before the August 31 deadline to avoid an unwanted automatic conversion.
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