Ten European Banks Launch RL1, a Regulated Blockchain Cooperative
The member-owned network, built on SWIAT technology, aims to unify Europe's fragmented capital markets DLT infrastructure.
Ten major European financial institutions have launched Regulated Layer One (RL1), a member-owned blockchain cooperative established as a European Cooperative Society in Luxembourg. The private, permissioned network targets regulated financial markets and tokenized assets, addressing the fragmentation plaguing Europe's capital markets DLT infrastructure.
Founding Members and Governance
Founding members include ABN AMRO, DekaBank, DZ BANK, KfW, LBBW, Natixis CIB, NatWest, Seturion, SC Ventures, and V-BANK. Each member holds equal decision-making rights over network governance and development.
The initiative tackles a growing problem: the proliferation of separate, siloed distributed ledger systems operated by individual banks. RL1's shared network could reduce this fragmentation by creating unified DLT infrastructure for the region.
Built on Proven Technology
RL1 is based on SWIAT technology with existing production use. The underlying infrastructure has processed more than 40 transactions totaling over 600 million euros during its operational history. This track record provided a foundation for the cooperative's launch rather than building from scratch.
Focus on Regulated Use Cases
The network targets institutional-grade blockchain applications within strict regulatory compliance frameworks. Primary use cases include digital money, tokenized bonds, collateral management, and blockchain-based settlement. By focusing on regulated instruments and maintaining shared governance among established financial institutions, RL1 aims to modernize European financial infrastructure while meeting existing compliance requirements.
The launch represents one of the most significant moves toward institutional blockchain adoption in Europe's banking sector. Rather than competing with separate proprietary systems, the participating institutions have chosen a cooperative model that distributes control equally among members while creating interoperability across their operations.