Ten European banks, including ABN AMRO, DekaBank, DZ BANK and Natixis CIB, have launched Regulated Layer One (RL1), a jointly owned blockchain network for regulated financial markets. The cooperative is structured as a European Cooperative Society (SCE) domiciled in Luxembourg, with equal decision-making rights for all members. The network, built on infrastructure by SWIAT, has operated in production for three years and settled more than 50 transactions worth over 700 million euros. RL1 targets digital bond issuance, tokenized real-world assets and onchain collateral mobilization. The project is positioned as a response to the European Central Bank’s Appia and Pontes initiatives for settling tokenized transactions in central bank money.
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