Crypto-friendly bank Revolut has informed its customers in the United States that it will be ending support for three major cryptocurrencies. In an announcement to its US customers, Revolut indicated that it will be delisting Cardano (ADA), Polygon (MATIC), and Solana (SOL). This “financial super app” added a series of tokens in early 2021 due to the increase in demand​.

The decision of London-based Revolut to delist ADA, MATIC, and SOL is seen as the company’s response to the existing regulatory environment in the US. The past few months have seen the U.S. Securities and Exchange Commission (SEC) intensify its regulatory pressure on several crypto platforms. Lawsuits filed against Binance and Coinbase last month revealed the tough regulatory landscape that the industry faces in the US as it continues to seek clarity from relevant authorities.

After the agency led by Chair Gary Gensler alleged that the above coins and many others were securities, Revolut’s US partner Bakkt decided to delist Polygon, Cardano, and Solana. The publicly listed crypto custodian announced the delistings in mid-June. Revolut has advised customers to sell their holdings on the app before September 18, after which any unsold assets will be sold and the cash deposited in users’ fiat accounts​​.

Notably, the delisting only affects US-based users, meaning support will continue across other markets. There have also been other platforms that decided to remove various crypto tokens, including Robinhood and eToro​¹​.