Ten European financial institutions have launched Regulated Layer One (RL1), a jointly owned blockchain cooperative designed for regulated financial markets and tokenized assets. Established as a European Cooperative Society in Luxembourg, founding members include ABN AMRO, Cecabank, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures and Seturion. Based on infrastructure developed by German fintech SWIAT, the network has processed over 50 transactions worth more than 700 million euros during three years of production use. Led by former SWIAT Managing Director Henning Vollbehr, RL1 aims to reduce fragmentation caused by financial institutions operating separate distributed ledger systems.
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