When designing a retail CBDC, central banks must establish clear operational boundaries to manage data processing demands and minimize disruptions to the commercial banking sector.
The Intermediated Two-Tier Access Model
Most central banks reject direct models—where the central bank manages accounts for millions of citizens—in favor of a Two-Tier Intermediated Framework:
[Central Bank Core Ledger Hub] <--- Wholesale Account Settlement ---> [Commercial Bank Nodes]
                                                                              |
                                                                              v
[Public User Digital Wallets] <--- Retail Token Access Distribution <---------+

Under this two-tier architecture, the central bank manages the core ledger and issues tokens, while licensed commercial banks and fintech firms handle customer onboarding, KYC compliance checks, and wallet applications, preserving the structure of the two-tier financial sector.
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