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You're right that internationally-run Tether (USDT) is the largest stablecoin and has opaque reserves.

However, American-run USDC is growing faster and has excellent transparency:

https://www.circle.com/en/transparency

It's also worth noting that the US government itself sometimes uses USDC when there is no better option. If there were any doubts of USDC's legitimacy, the government would be trying to shut it down (see: USDT), not using it for transfers.

https://www.nasdaq.com/articles/us-government-enlists-usdc-f...

https://www.circle.com/blog/circle-partners-with-bolivarian-...

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