Revolut is dropping Tether's USDT in August — a lesson in who controls your stablecoin

Revolut has told some customers it will stop supporting Tether's USDT, the largest stablecoin, in August. According to a notice seen by Cointelegraph, users can no longer buy USDT from July 6, deposits stop being accepted after July 30, and the token is fully delisted on August 31. Anything you still hold at that point is automatically converted into your account's base currency at that day's exchange rate. Revolut cited “regulatory and risk considerations” without naming a specific rule.

The move fits a pattern in Europe. Since late 2024, crypto platforms have been dropping USDT to line up with the EU's MiCA rulebook, which sets reserve and licensing requirements for stablecoins. Coinbase began delisting USDT in Europe in 2024, and Revolut itself received a MiCA license in November 2025. Tether has refused to comply with MiCA; its CEO, Paolo Ardoino, has repeatedly criticized the rules, especially requirements to hold part of a stablecoin's reserves at EU banks.

To be clear about scale, USDT is not a small or shaky project — it is the third-largest crypto asset overall at around $184 billion, ahead of Circle's USDC at about $73 billion. Revolut hasn't said whether the delisting applies everywhere or only in certain countries. So this is less a verdict on Tether's health than a sign of how regulation reshapes what an app is willing to offer.

The beginner lesson hides in that automatic conversion. When you hold a stablecoin inside an app like Revolut, you are relying on the app's permission to keep offering it — and when the rules change, the platform can remove the token and swap your balance for regular currency without asking you first. That is very different from self-custody, where the coins sit in a wallet only you control. None of this is advice on what to hold, but if you keep USDT on Revolut, the practical move is simple: note the July and August deadlines, decide whether to sell, withdraw, or let it convert, and keep a record for your own taxes and accounting.