It's funny that the USDC website doesn't list the main use of stablecoins (especially Tether) these days: arbitrage.
When moving fiat between two exchanges can take days and flag your accounts for suspicious activity, moving the same value using Tether is much much faster (~30 mins to 1 hour).
If one observes how does USDT flows, you'll find that it flows between the 3 or 4 major exchanges that use it, with almost no use elsewhere: no major wallets, no merchant acceptance, etc..
When moving fiat between two exchanges can take days and flag your accounts for suspicious activity, moving the same value using Tether is much much faster (~30 mins to 1 hour).
If one observes how does USDT flows, you'll find that it flows between the 3 or 4 major exchanges that use it, with almost no use elsewhere: no major wallets, no merchant acceptance, etc..