Pick any of the already existing stable coins. We don't even need new technology to replace Tether. We just need international exchanges to support existing stables.
USDC recently received a Wells notice from SEC and had to amend their reserves. Still weird behaviour from them overall: they don’t disclose what their short term commercial paper is, its rating or how much of their cash equivalents it us.
Just today in the financial times Tether claimed USDC also issues USDCs backed by crypto.
And they have funny printing patterns: whenever Tether stops printing, USDC starts.
I noticed that, specially recently. What's going on?
It’s been around years before USDC and maintained its peg through the 2017 collapse, if I recall.
I know it has changed over time (multi-collateral Dai).