Revolut confines USDT delisting to EEA and Switzerland as MiCA bites

Revolut has confirmed that its withdrawal of support for Tether’s USDT stablecoin is confined to customers in the European Economic Area and Switzerland, with the digital banking group stressing that its service elsewhere remains unaffected. The clarification, issued to Cointelegraph, comes as the fintech unwinds its USDT offering in selected European markets ahead of an August deadline.

A Revolut spokesperson said the decision followed an internal review of its cryptocurrency services conducted in light of the European Union’s Markets in Crypto-Assets Regulation. “Revolut is discontinuing support for USDT for customers in the EEA following a periodic review of our cryptocurrency offering in light of the evolving EU regulatory framework under MiCA,” the spokesperson said.

Deadline set for end of August

News of the delisting first emerged on Friday, when Revolut notified some European users that USDT would be removed from its platform by 31 August 2026. The company said the process had already begun, having previously withdrawn USDT from its Revolut X trading venue for EEA customers. The latest step, it said, completes the token’s removal from its EEA retail offering.

Revolut’s move follows a pattern that has become familiar across the bloc since Tether, issuer of the $184 billion stablecoin, declined to pursue authorisation under MiCA. Several European exchanges and platforms have progressively curtailed USDT access as the regulation’s transitional provisions come into force, leaving unauthorised stablecoins increasingly difficult to offer to retail customers within the EEA.

Switzerland’s inclusion raises questions

MiCA is designated as having relevance across the wider EEA, encompassing Norway, Iceland and Liechtenstein alongside EU member states, according to guidance from the European Securities and Markets Authority. Switzerland, however, sits outside both the EU and the EEA and is not directly bound by the regulation.

Revolut did not explain why Swiss customers were nonetheless included in the delisting, nor did it provide a full list of jurisdictions where its crypto services continue unchanged. The company had not responded to requests for further clarification on the scope of its offering at the time of publication.

A wider recalibration under MiCA

Revolut, headquartered in the United Kingdom, first launched crypto trading in 2017 and expanded its crypto services across EEA countries in 2024. Its latest adjustment illustrates how firms operating across multiple regulatory perimeters are having to draw increasingly precise lines between jurisdictions as MiCA’s stablecoin provisions take hold.

The episode adds to a growing body of evidence that MiCA is reshaping the commercial calculus for stablecoin distribution in Europe, with platforms weighing compliance costs and legal exposure against the convenience of offering widely used but unauthorised tokens such as USDT.

Read more: Binance’s $1bn stablecoin exodus lands as MiCA regime beds in across Europe