The StableTez Project (aka the Tezos Stablecoin Project) is an open-source technology project, organized by 'StableTech (Tezos Stable Technologies, Ltd.), and developed by independent service partners around the world. Tezos Stable Technologies, Ltd. is a wholly-owned subsidiary of The Tezos Stablecoin Foundation — a non-shareholder foundation.
StableTez is an effort by Tezos community members, services partners, and financial-backers of the project to provide Tezos-on-chain stable assets for financial instruments and for economically-efficient Tezos-token trading. These financial instruments are pegged to the priced value of off-chain assets such as global currencies (e.g. US Dollar, Euro,), metals (e.g. gold, silver), agricultural commodities (e.g. coffee, soy), as well as coins of other blockchains (e.g. Bitcoin, Ethereum,).
StableTez assets run under unique smart-contracts respective of which asset type (i.e. a smart-contract for USDtez, a different one for EURtez, a different one for BTCtez, so on and so forth) yet each smart-contract is under the collective governance of the StableTez smart-contract. This is accomplished through the FA 2.0 which enables formal wrapped governance.
The overarching StableTez smart-contract itself is to be governed by SABZ token holders through a Tezos inspired on-chain governance process (i.e. StableTez DAO).