First of all, many stable coins work on ETH network, USDT and GUSD are part of that list.
Hey, just a small correction. USDT is not an erc20 toekn, it is a coloured coin and it runs in the BITCOIN network.
It runs on Omni layer.
About the topic, bndes is a public bank that is planning to release this stable coin. It is different from Venezuela approach, and I believe that if it succeeded it will be good for the ecosystem.