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USDT it is supposed to be backed by bank reserves. However, the company that issue USDT does not allow converting USDT to USD.

For other cryptocurrencies pegged to USD check my article: https://steemit.com/money/@ropaga/cryptocurrencies-pegged-to-usd-and-other-fiat

Coin Marketplace

STEEM 0.09
TRX 0.30
JST 0.034
BTC 114941.03
ETH 4160.03
USDT 1.00
SBD 0.62