Ten European financial institutions have jointly launched Regulated Layer One, or RL1, a private permissioned blockchain network aimed at regulated financial markets and tokenized assets. The network has been established in Luxembourg as a European cooperative and is already in operation.
Founding members are ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures, and Seturion. RL1 said each member holds equal decision-making rights over governance and development.
The network is built on infrastructure developed by German fintech company Secure Worldwide Interbank Asset Transfer, or SWIAT, which has transferred ownership of the network to the cooperative. SWIAT said the platform processed more than 50 transactions worth over 700 million euros during three years of production use.
RL1 is intended for digital currencies, tokenized bonds, collateral, and blockchain-based settlement. The initiative will be led by former SWIAT Managing Director Henning Vollbehr. KfW and L-Bank will continue to support the project, while RL1 is also in talks with additional institutions including NatWest about joining the network.
Ten European financial institutions have jointly launched Regulated Layer One (RL1), a network aimed at regulated financial markets and tokenized assets. The network has been established in Luxembourg as a European cooperative and has already begun operations.
The founding members are ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures, and Seturion. RL1 said each member has equal decision-making rights in network governance and development.
The private permissioned network is built on infrastructure developed by German fintech company Secure Worldwide Interbank Asset Transfer (SWIAT). SWIAT has transferred ownership of the network to the cooperative.
According to SWIAT, the platform processed more than 50 transactions with a total value above 700 million euros during three years of production use. RL1 is designed for digital currencies, tokenized bonds, collateral, and blockchain-based settlement.
RL1 will be led by former SWIAT Managing Director Henning Vollbehr. KfW and L-Bank will continue to support the initiative, and RL1 is in discussions with additional institutions including NatWest about joining the network.
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