[jasonlingx]

Depends what you mean by “holding” USD. Is it under your mattress? Or in a bank? Is it a bank in Venezuela or Lebanon?

Holding USDT is kind of holding USD. You just have Tether in the middle.

Main utility (value?) of stablecoins is to “bridge” USD fiat into crypto though.

Interestingly, crypto.com (exchange) keeps a “USD” balance for its customers, which is separate from its USDT balance. You can deposit/withdraw to/from your “USD” balance via fiat (bank transfer) or a basket of stablecoins like USDC, BUSD etc. Binance does this as well, and FTX before. They all kept USDT separate though. Worth considering why this is the case.

[koolba]

> They all kept USDT separate though. Worth considering why this is the case.

Because they’re not dollars, it’s a token that is supposed to be pegged to a dollar. It’s not a dollar until you redeem it for an actual dollar. In that respect it’s the same as USDC.

[JumpCrisscross]

I think the question is, given a choice of stablecoins, who is choosing Tether and why?

[koolba]

USDC has been known to blacklist users and lock their coins from further transfer: https://thedefiant.io/usdc-addresses-banned

They’re regulated by the USA and I’m sure the terms say they’ll comply with requests from Uncle Sam.