• Revolut announced to its U.S.-based users that it is delisting Cardano (ADA), Polygon (MATIC), and Solana (SOL).
• The delisting follows high-profile SEC cases against Coinbase and Binance which identified the assets as securities.
• After a later, unspecified date, users will no longer be able to hold or sell those cryptocurrencies and Revolut will automatically sell the tokens and deposit the equivalent cash into each user’s Revolut account.
Revolut Delists Cardano, Polygon, and Solana in US Market
In an email sent to U.S.-based users on June 28th, U.K. fintech firm Revolut announced that it is ending support for three major cryptocurrencies – Cardano (ADA), Polygon (MATIC), and Solana (SOL) through its app, effective immediately.
SEC Cases Against Coinbase And Binance
The company stated that U.S. users will not be able to buy these coins through its app due to changing laws and regulations in the U.S., likely referring to the Security and Exchange Commission’s ongoing cases against Coinbase and Binance which identified ADA, MATIC, and SOL as securities.
No Longer Able To Hold Or Sell Cryptocurrencies
At a later, unspecified date, users will no longer be able to hold or sell those cryptocurrencies according to the new policy set by Revolut – after which they will automatically sell the tokens and deposit the equivalent cash into each user’s Revolut account..
Revolut Supports More Than 80 Tokens
At present, this policy only affects a small portion of their supported coins – Revolut currently supports more than 80 tokens according to its website.
Delisting Affects Only US Users
The delisting affects only US-based users of the Revolut app since it is primarily a UK service but has recently expanded into other countries including America.