Revolut delists Cardano, Polygon, and Solana in US market

2023-6-30 00:45

in an email sent to U.S.-based users on June 28, U.K. fintech firm Revolut announced that it is ending support for three major cryptocurrencies.

The company stated that U.S. users will not be able to buy Cardano (ADA), Polygon (MATIC), and Solana (SOL) through its app, effective immediately.

At a later, unspecified date, users will no longer be able to hold or sell those cryptocurrencies. After that date, Revolut will automatically sell the tokens and deposit the equivalent cash into each user’s Revolut account.

The delisting only affects a small portion of the company’s supported coins. Revolut currently supports more than 80 tokens, according to its website.

At present, the new policy applies to users of the U.S. Revolut app. The company is primarily a U.K. service but has recently expanded to the U.S. and elsewhere.

Delisting follows high-profile SEC cases

Revolut said that it is delisting the above assets because of changing laws and regulations in the U.S. Though the company did not specifically identify the Security and Exchange Commission’s ongoing cases against Coinbase and Binance, both of those cases name ADA, MATIC, and SOL as securities.

Other exchanges and crypto platforms have delisted the same assets in recent weeks. Robinhood announced that it would delist ADA, MATIC, and SOL on June 9, while Bakkt announced it would delist those coins on June 16.

Revolut did not provide any further comment on its decision but provided CryptoSlate with a copy of the email that it sent to its customers.

The post Revolut delists Cardano, Polygon, and Solana in US market appeared first on CryptoSlate.

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