Online bank Revolut delists ADA, MATIC, and SOL in the US

In the future, US customers will not be able to hold or sell these coins

30.06.2023 - 09:15

2 min

What’s new? On June 28, London-based fintech company Revolut disabled the ability to buy Cardano (ADA), Polygon (MATIC), and Solana (SOL) cryptocurrencies through its app for US customers. They will also not be able to store or sell these assets in the future, but the exact date for disabling these features is not specified in the email to users. After that date, Revolut will automatically sell the coins and deposit the equivalent amount in fiat into US customer accounts.

CryptoSlate’s material

What else is known? Revolut said that the delisting of ADA, MATIC, and SOL is due to changes in laws and regulations in the United States. The company did not mention the US Securities and Exchange Commission (SEC) lawsuits against Coinbase and Binance, although they both name these digital assets as securities.

The delisting affects only a small portion of the coins in the app. Revolut currently supports more than 80 tokens.

On June 16, support for ADA, MATIC, and SOL was terminated by crypto platform Bakkt, on June 27, online broker Robinhood, and clients of broker eToro in the US will not be able to open new positions in MATIC tokens, as well as ALGO, MANA, and DASH from July 12. The companies’ decision is also linked to the SEC’s lawsuits against Coinbase and Binance.

Author: