Crypto Neobank Revolut Declares Removal of SOL, MATIC, and ADA from Listings

• Customers can continue to hold and trade these tokens until September 18.
• The U.S. SEC has categorized ADA, MATIC, and SOL as unregistered securities.

Due to recent regulatory developments in the U.S., the crypto-friendly neobank Revolut is set to delist several digital assets from its platform. The Revolut team announced that it intends to permanently remove tokens such as Cardano, Polygon, and Solana from its offerings in September.

On June 29th, Revolut notified its American users about this decision, stating that they will no longer be able to buy ADA, MATIC, or SOL in the future. A representative from Revolut highlighted that customers may continue to hold and trade these tokens until September 18.

The company communicated to U.S. customers:

“Any remaining tokens will be sold on your behalf using the market price at the time of sale. We’ll deposit the USD proceeds into your Revolut account.”

Compliance With SEC

In regions outside the United States, Revolut continues to support ADA, MATIC, and SOL, as stated by a company spokesperson. The representative noted that Revolut’s cryptocurrency support significantly varies by country.

The firm remarked:

“Our U.S. crypto services provider has decided to delist these tokens due to the changing laws and regulations around cryptocurrency in the United States.”

Revolut is not the only entity delisting these three cryptocurrencies. In recent weeks, numerous major exchanges and trading platforms, including Robinhood, eToro, and Bakkt, have announced the removal of ADA, MATIC, and SOL, effectively halting all purchases.

Earlier last month, it was disclosed that the U.S. Securities and Exchange Commission (SEC) had classified ADA, MATIC, and SOL as unregistered securities.

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