Some companies create new stablecoins, why do we need them?
The day traders, the speculators need them.
Since cryptocurrencies' price fluctuates (against dollar) they exchange their crypto in and out of these stablecoins and gain some % here and there (and they don't touch fiat money, so less tax issues, more exchanges they can work with and so on).
Also they can easily do arbitrage (buy at one exchange and sell at another) since transferring stable coins works much faster that with fiat money.
But do we need a lot of stable coins? I know that we have USDT, TUSD, CKUSD and many more. We knew that most exchange sites are using USDT. I thought that these stable coins have created with a purpose.
CKUSD only traded on two platforms. I think these platforms are taking the advantage by creating their own stable coins. It's just an example.