European financial institutions launch RL1 cooperative blockchain network
Ten European financial institutions have launched Regulated Layer One (RL1), a jointly owned, permissioned blockchain cooperative for regulated financial markets and tokenized assets. Established as a European Cooperative Society in Luxembourg, RL1 begins with founding members including ABN AMRO, Cecabank, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures and Seturion. Each member will have equal governance rights. RL1 is built on infrastructure developed by SWIAT, which has transferred ownership of the network to the cooperative. The system has already handled more than 50 transactions totaling over 700 million euros in production use. RL1 aims to support digital money, tokenized bonds, collateral and blockchain-based settlement, while reducing fragmentation from separate institutional ledger systems. Former SWIAT Managing Director Henning Vollbehr will lead RL1.
