Bit of a thin line between the two, IMO. However, I get your point
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The difference between Stablecoins and Digital Cash
Although Stablecoins can be collateralized by fiat currency 100%, digital cash is always an exchange of 1 fiat currency for 1digital equivalent more like a CBDC, in this regard every Digital cash owner is identified and associated with every particular digital cash, in other words, they are always account-based identity issued they are most suitable for bridging fiat to Crypto/DeFi but unlike Stablecoins they can never be unpegged, it simply does not matter because you will always be able to exchange 1 Digital Cash for 1 Fait currency it represents like
1USD: 1DigitalDollar
1Euro: 1 DigitalEuro etc.