Revolut to Delist USDT in Europe as Tether Skipped MiCA License
Revolut will delist Tether (USDT) for European Union customers on August 31. The USDT delisting stems from Tether’s resolution not to search authorization below the EU’s Markets in Crypto-Assets (MiCA) regulation.
Customers should buy USDT till July 6. A staged wind-down then runs by way of late August, when leftover balances convert to fiat.
Revolut USDT Delisting Runs on a Staged Timeline
Revolut confirmed the change in a July 3 submit on X, pointing customers to a DefiLlama dashboard of licensed choices. The fintech constructed a $75 billion valuation serving greater than 75 million prospects.
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New USDT deposits cease on July 30. Customers can promote or withdraw the token to exterior wallets till August 31. After that date, remaining balances convert robotically to fiat at prevailing trade charges.
MiCA moved into full enforcement on July 1, and regulators have expanded the register of licensed suppliers to 280 companies. Tether stayed out, echoing its absence from earlier approval rounds below the framework.
The rules require important stablecoin issuers to maintain not less than 60% of reserves as financial institution deposits. CEO Paolo Ardoino has argued that structure creates liquidity risks. Tether already retired its euro stablecoin, EURT, in November 2024 fairly than adapting it.
Audit Questions Cloud Tether’s Regulatory Standing
For Tether, lacking the EU’s licensed lists is unsurprising given its long-running audit controversy. Consumers’ Research just lately criticized Tether’s audit record, faulting the issuer for failing to present an unbiased evaluation of its reserves.
The group raised the priority in a letter to US governors.
“Tether’s continuous failure to bear an unbiased audit raises a distressing purple flag for the corporate and its USDT product. Tether has promised that it could conduct a full audit since not less than 2017 however has nonetheless failed to achieve this. … Years later, there’s nonetheless no audit.”
Tether has lengthy relied on quarterly attestations as a substitute of full audits. In an April 2025 interview, Ardoino mentioned the agency was nonetheless in search of a top-tier audit associate. He argued that main accounting companies stay cautious about stablecoin purchasers after crypto’s trade failures and hacks.
The audit hole might stay a key barrier to any future MiCA authorization.
USDC Extends Its Lead in Europe
The transfer strengthens Circle’s USDC, which holds MiCA authorization and retains its listings on licensed venues. Circle has emerged as MiCA’s quiet winner whereas USDT exits regulated European platforms.
Despite the retreat, USDT stays the biggest stablecoin worldwide and the third-largest crypto asset. It trades close to $1.00 with a $184 billion market cap and $41 billion in day by day quantity as of July 4.
USDC’s market cap stands close to $73 billion, lower than half of USDT’s. The hole means that Tether is buying and selling regulated European entry for scale elsewhere.
Early Revolut investor Max Karpis said the delisting reverses the fintech’s latest enlargement of its stablecoin options.
“Revolut is delisting USDT on 31 Aug 2026 (regulatory/threat causes). Not way back, they expanded help to embrace zero-fee transfers and 1:1 USDT/USDC swaps. Now a reversal. Compliance hits once more.”
The coming weeks will present whether or not Revolut customers rotate into USDC or transfer USDT to self-custody earlier than the cutoff.
The submit Revolut to Delist USDT in Europe as Tether Skipped MiCA License appeared first on BeInCrypto.