Tether is great until you realize that you have to use Ethereum and then you get to deal with fees that are totally stupid. But maybe that changed. Strike is using the Tron chain. So Tether is not really an independent product. It's on various chains and it's based on the dollar.

I don't think it's that useful but Tether on Tron or Binance chain is popular outside of the US. Both Tron and Binance have chains that try to encourage Ethereum developers to make products and laterally move to their chains.

It's way too confusing for me even though I have experimented with them in the past and I just wasted time and money.