Banks have short term liabilities (customer deposits and certificates of deposit) and long term assets (business loans, mortgage loans, etc.). A bank cannot call its business and mortgage loans from the borrower, so the maturity mismatch can create credit crunches for banks.

Tether has short term liabilities (tokens) and short term assets (T-bills, money market funds, bank deposits, etc.). Because most of their assets are in short term "cash equivalent" assets with lots of liquidity, Tether can more easily deal with large redemptions as they did in April - July when their market cap went from $83B to $66B.