Stablecoins, RWA & Tokenization

What is the difference between a stablecoin and the digital rupee (CBDC)?

The key difference is who issues them: a stablecoin is issued by a private company and backed by its own reserves, while the digital rupee is a central bank digital currency issued directly by the Reserve Bank of India. The digital rupee is legal tender and a direct liability of the central bank, whereas a stablecoin depends on a private issuer's solvency and reserve quality. For example, a privately issued dollar-pegged token carries issuer risk that a sovereign-issued CBDC does not. They serve overlapping purposes but rest on very different foundations.