It's prominent use case is as a workaround for shady exchanges who don't want to touch USD, for regulatory reasons, so instead they use "USDT" (Tether backed US

It's prominent use case is as a workaround for shady exchanges who don't want to touch USD, for regulatory reasons, so instead they use "USDT" (Tether backed USD). Some people look to stablecoins to avoid the volatility of crypto. Unfortunately stablecoins aren't really what cryptocurrencies are about, they're supposed to be without a trusted third party, yet stablecoins has a third party issuer who can for example refuse to redeem your coins. I personally think they're a big waste of time at best and scams at worst (like Tether).