Revolut Delists USDT Amid Regulatory and Risk Concerns
Revolut Delists USDT Amid Regulatory and Risk Concerns
Digital banking platform Revolut has announced it will delist the stablecoin USDT after August 31st, citing escalating regulatory and risk concerns. Customers' remaining USDT holdings will be automatically converted to their base currency.
Revolut's Delisting of USDT
Revolut has begun notifying its customers about the upcoming delisting of Tether's stablecoin, USDT, effective after August 31. The decision by the global financial technology company is primarily driven by mounting regulatory scrutiny and internal risk assessments. This move indicates a cautious approach in navigating the evolving landscape of cryptocurrency regulations. For users holding USDT on the Revolut platform, any remaining balances after the specified deadline will be automatically converted into the user's base currency, ensuring no frozen assets but potentially impacting those who wished to hold USDT directly.