The potential introduction for a CBDC is discussed in this chapter. To begin, the question of “why CBDC?” is reconciled, which is followed by a discussion as to how central bank money acts as a catalyst for the fungibility of privately issued IOUs. The various architectural arrangements with regard to how CBDC may be disseminated to end-users is also divulged. A flow of funds representation then details the provision of a two-tier CBDC, meaning that while individual traders will still continue to hold direct claims on the central bank, the means of payment is distributed by private actors. Given the extensive debates as to if CBDC will be able to adopt token-based properties as a means of payment, the chapter provides an appraisal of whether it is possible for CBDC to be token-based for both online and offline payments. The chapter then discusses why central banks are seeking to complement the private means of payment world with CBDC—as opposed to “overthrowing” it—by dispelling some misconceptions regarding the design of a CBDC. In the final section of the chapter, cross-border payments in CBDC with and without FX conversion are first presented through systems of financial accounts, followed by a discussion as to how CBDC may be potentially “weaponised” by subjugating the monetary sovereignty of nations through jeopardising the fungibility of privately issued IOUs.