Revolut's USDT purge stops at the EU's edge — Swiss users get pulled in anyway

Revolut has confirmed that its upcoming delisting of Tether's USDt (USDT) is limited to customers in the European Economic Area and Switzerland, with support for the $184 billion stablecoin continuing in other markets where the digital bank operates crypto services. A company spokesperson told Cointelegraph the move follows a periodic review of Revolut's cryptocurrency offering under the European Union's Markets in Crypto-Assets Regulation, known as MiCA. "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.

The company first notified some European users of the plan on Friday, saying USDT would be removed from its platform by Aug. 31, 2026. Revolut had already removed USDT from its Revolut X trading venue for EEA customers, and the latest step completes the withdrawal of the token from its EEA retail offering, according to the spokesperson. Revolut did not provide a list of jurisdictions where it currently offers crypto services and had not responded to requests for clarification on the scope of its offering by the time of publication.

Revolut's decision mirrors a broader pattern across the EU, where crypto platforms have phased out USDT after Tether, the stablecoin's issuer, opted not to seek authorization under MiCA. Under the regulation, issuers of euro-denominated stablecoins must meet strict reserve, disclosure and oversight requirements to operate in the bloc.

MiCA is designated as having EEA relevance, meaning it is expected to extend to Norway, Iceland and Liechtenstein alongside EU member states, according to official documents from the European Securities and Markets Authority. Switzerland, which Revolut included among the affected markets, is not part of the EU or the EEA and is not directly covered by MiCA, and Revolut did not explain why Swiss customers were included in the delisting.

Headquartered in the United Kingdom, Revolut originally launched crypto trading in 2017 and expanded crypto services into EEA countries in 2024. The company did not say whether the EEA and Switzerland delisting would affect other stablecoins on its platform or whether additional regulatory-driven removals are planned.