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 gives each member equal governance rights. Founding members include ABN AMRO, Cecabank, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures and Seturion. The network is based on SWIAT infrastructure, which has been transferred to the cooperative after processing over 50 transactions worth more than 700 million euros in production. RL1 is aimed at institutional uses such as digital money, tokenized bonds, collateral, and blockchain-based settlement, with the goal of reducing fragmentation across separate ledger systems. Henning Vollbehr will lead RL1.
