They’re not a crypto to replace fiat though. AFAIK they want to take fiat on with fiat.

So basically take on PayPal, VISA, MasterCard, and their ilk.

Maybe the token will be a security token, which would please more traditional investors.

Edit: https://www.forbes.com/sites/lelalondon/2018/11/01/is-initiative-q-the-new-bitcoin/