I'm just curious, why do exchange always attempt to create new kind of cryptocurrency that can replace USD?
In my opinion, It's much better if you can just convert it directly to USD, so trader may assure that their money in the trading site is really equal to 1usd.
What is your option on this matter?
For exchanges, it's easier to make their users believe that they are exchanging their coins for fiat than to reach an agreement with a bank. On the other hand, they bet on a niche market which is demanded by their users. For some reason, many people believe these coins are really stable and trustworthy.