Revolut announced in an email to US-based users on June 28 that it will end support for three major crypto assets. The fintech firm announced immediately that US users will no longer be able to purchase Cardano, Polygon, and Solana through its app.
On an unspecified date, users will no longer be able to hold or sell these crypto assets. After this date, Revolut will automatically sell tokens and deposit the corresponding amount into each user's Revolut account.
The delisting will only affect a small percentage of the coins the company supports. According to their website, Revolut currently supports over 80 tokens.
The new policy now applies to his Revolut app users in the US. The company is primarily a UK service provider but has recently expanded into the US and elsewhere.
High-profile SEC litigation follows the delisting
Revolut has announced that it will delist the aforementioned assets due to changes in US laws and regulations. The company has not disclosed the specific names of the ongoing Securities and Exchange Commission lawsuits against Coinbase and Binance, but both lawsuits list ADA, MATIC, and SOL as securities.
Other exchanges and cryptocurrency platforms have also delisted the same assets in the past few weeks. Robinhood has announced that it will delist ADA, MATIC, and SOL on June 9th, while Bakkt has announced that these coins will be delisted on June 16th.