USDT/PYUSD support discontinuation- Product impact
What do I need to do with my current USDT/PYUSD balances?
You must convert all existing USDT and PYUSD balances to a different currency by 22nd of February 2026 00:00 UTC. This can be done directly via the API or through the Platform. If you do not convert your funds in time, we are authorized under the MSA to convert them to a different stablecoin on your behalf. Any costs associated with the conversion will be paid by you.
All pay-ins, payouts, conversions in USDT/PYUSD via the API or BVNK portal will not be supported after 23rd of February. Incoming payments will be returned to the source address.
Specific MSA clause addressing this:
Clause 5 of Part C of Service Schedule 2 (Section D) of the MSA states:
5. Discontinuation Of Supported Digital Assets
5.1. We may, at any time and in our sole discretion, discontinue supporting any specific type of Digital Asset by providing you notice of this change.
5.2. If you hold Digital Assets that are no longer supported by us, BVNK may, where it is able to do so, convert the unsupported Digital Asset to a Supported Digital Asset, and you agree that you will be liable for any associated costs in relation to the Conversion. Notwithstanding this, you may still risk losing the Digital Assets.
5.3. If you, your End-User or any other third party sends or uses an unsupported Digital Asset, you agree and acknowledge that you risk losing the Digital Assets.
What happens if I don’t convert my funds by the 22nd of February?
We strongly advise converting your funds yourself via the API or Platform by 22nd of February 2026 00:00 UTC. However, if you do not convert them in time, we reserve the right (per the MSA) to convert the remaining USDT/PYUSD balances to a different stablecoin at the prevailing market rate.
What happens if my customer/ another counterparty sends USDT/PYUSD to one of our old USDT/PYUSD addresses after the deadline?
If a customer/counterparty sends USDT/PYUSD to an old address (e.g., via late payments or auto-convert features), we cannot accept the funds. These payments will be returned to the source address. Please be aware that you will be responsible for paying the gas fees associated with returning these funds. Effective 23rd of February 2026, any USDT/PYUSD deposits sent to old addresses will be returned to the end user.
Do I need to change my channel addresses for USDT/PYUSD?
Yes. All existing USDT/PYUSD channel addresses must be recreated as USDC/ EURC/ other non stablecoin crypto currency channels. You must re-share these new addresses with your customers and remove USDT/PYUSD options from your platform by 22nd of February 2026 00:00 UTC deadline.
What happens to USDT/PYUSD channel deposits sent after March 1, 2026?
You must inform your customers that effective 22nd of February 2026 00:00 UTC, any USDT/PYUSD deposits sent to old addresses will be returned to the end user., and gas fees for the return transaction will be borne by you.
Can I still view my transaction history for USDT/PYUSD after the wallets are closed?
Yes. Even though we will deactivate the USDT/PYUSD wallets to prevent future deposits or withdrawals, we will retain all transaction records. You will still be able to access your transaction history on the platform and export it as a CSV file for your records.
Can I transfer funds internally to an old USDT/PYUSD wallet?
No. After 23rd of February, once a USDT/PYUSD wallet has been deactivated, as part of this delisting process, it cannot receive any internal transfers. Furthermore, any Merchant IDs previously connected to these USDT/PYUSD wallets must be linked to different wallets, learn more here.
USDT/PYUSD support discontinuation- Embedded
We’re incorporated outside the EEA, but some of our customers are based in the EEA. What happens in that case?
Customers (i.e. embedded partner customers) who are based in the EEA will not be able to use USDT/PYUSD after 22nd of February 2026 00:00 UTC. USDT/PYUSD wallets, deposit addresses, balances, and payouts will not be available for those customers. Customers located outside the EEA can continue using USDT/PYUSD as normal, within the same integration.
We’re incorporated in the EEA, but our customers are outside the EEA. Can they still use USDT/PYUSD?
Yes. If your customers are located outside the EEA, USDT/PYUSD is available to them, even if your company is incorporated in the EEA. USDT/PYUSD access is determined by where your customer is based, not where your company is incorporated.
What happens if both our company and our customers are based in the EEA?
USDT/PYUSD is not available. Your customers will not see USDT/PYUSD wallets, balances, deposit addresses, or payout options.
What happens if both our company and our customers are based outside the EEA?
USDT/PYUSD is fully available. Your customers can hold, receive, and send USDT/PYUSD normally.
USDT/PYUSD support discontinuation- General
Why is BVNK discontinuing USDT/PYUSD support for EEA customers?
New EU rules under MiCA restrict the use of stablecoins that are not MiCA-compliant for customers in the European Economic Area. To meet these requirements, BVNK will phase out support for USDT/PYUSD, for EEA-based customers by 22nd of February 2026 00:00 UTC.
When will USDT/PYUSD support end for EEA customers?
Support for USDT/PYUSD will end on 22nd of February 2026 00:00 UTC for EEA-based customers. After this, EEA customers will no longer be able to receive, send or hold USDT/PYUSD in their BVNK accounts.
What are my options if I'm an EEA customer and I want to continue using stablecoins in my flows?
You have two main options:
- Migrate your flows to USDC or another supported crypto asset within your BVNK account.
- If your group structure allows, onboard a new non-EEA entity with BVNK to maintain access to USDT/PYUSD.
What will happen to my existing USDT/PYUSD balances after 23rd of February 2026?
After 22nd of February 2026 00:00 UTC USDT/PYUSD will no longer be a supported asset for EEA customers. If you have not yet provided us instructions to either (a) convert USDT/PYUSD to another supported stablecoin (e.g., USDC) within BVNK; (b) convert USDT/PYUSD to fiat currency via supported rails; or (c) transfer USDT/PYUSD out to an external third-party wallet, we will convert your USDT/PYUSD to another supported asset or currency for you.
Can non-EEA customers still use USDT/PYUSD?
Yes. The current restrictions apply only to customers in the EEA. BVNK will continue supporting USDT/PYUSD for customers and entities based outside the EEA.
What happens to my pay-in or payout flows using USDT/PYUSD?
For EEA-based customers:
- After 22nd of February 2026 00:00 UTC, USDT/PYUSD will no longer appear as a supported asset for new pay-ins or payouts.
- BVNK will remove USDT/PYUSD from payment pages, dashboards and other product surfaces.
- Customers using API or custom integrations may need to update configurations to avoid errors.
Does this impact BVNK’s broader operations or license applications?
No. This change relates only to the use of USDT/PYUSD in the EEA. It does not apply to services provided by other BVNK entities.