German blockchain infrastructure provider SWIAT has launched RL1 (Regulated Layer One), a blockchain dedicated to Europe’s regulated capital markets. The network, operating as a European Cooperative Society in Luxembourg, counts ten founding financial institutions including ABN AMRO, DekaBank, Cecabank and Crédit Mutuel Alliance Fédérale. SWIAT remains the core technology provider, with the network having completed over 50 transactions totaling more than 700 million euros over the past three years. RL1 aims to establish a neutral European blockchain infrastructure to improve interoperability and reduce fragmentation among regulated financial institutions, with discussions ongoing with other banks including NatWest.
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