Ten financial institutions launch a member-owned blockchain network to streamline regulated markets and reduce fragmentation in digital asset infrastructure.
Ten European financial institutions have established RL1, a cooperative blockchain network for regulated financial markets and tokenized assets. The Luxembourg-based entity operates as a European Cooperative Society, with equal governance rights for all members, including ABN AMRO, DekaBank, and Natixis CIB.
The private, permissioned network is built on infrastructure developed by German fintech SWIAT, which has processed over 50 transactions worth 700 million euros ($808 million) in three years. RL1 aims to support institutional use cases like digital money, tokenized bonds, and blockchain-based settlement.
The cooperative seeks to address fragmentation by consolidating separate distributed ledger systems under a shared platform. Ownership of the network has been transferred from SWIAT to the cooperative, ensuring member-driven development.