Central Bank Digital Currency (CBDC) is a digital version of a country’s fiat currency that is issued and backed by a country’s central bank. The purpose of CBDCs is to provide a digital alternative to physical cash, which is becoming less popular due to the rise in usage of digital payments. This chapter examines the potential of retail CBDC to enhance financial inclusion in emerging markets and developing economies (EMDEs). To this end, the chapter examines the nature and characteristics of CBDC and the emergence of CBDC in EMDEs. The chapter highlights key considerations for financial inclusion and barriers pertaining to retail CBDC and how CBDC may address these barriers. It juxtaposes financial integrity by examining the financial integrity risks that may be introduced by CBDC, risks for central banks that may arise and how these may be mitigated. The chapter makes some observations on the trade-off between the competing interests of financial inclusion and financial integrity for retail CBDCs.