Huoxing Finance reports that ten European financial institutions have jointly launched Regulated Layer One (RL1), a network established and operational in Luxembourg as a European cooperative, targeting regulated financial markets and tokenized assets. Founding members of RL1 include ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures, and Seturion. RL1 states that each member holds equal decision-making authority over network governance and development. This private permissioned network is built on infrastructure developed by the German fintech company Secure Worldwide Interbank Asset Transfer (SWIAT), which has transferred ownership of the network to the cooperative. SWIAT notes that during three years of production use, the platform processed over 50 transactions totaling more than €700 million. RL1 is designed for use cases including digital currencies, tokenized bonds, collateral, and blockchain-based settlement. RL1 will be led by former SWIAT Managing Director Henning Vollbehr, with KfW and L-Bank continuing to support the initiative. RL1 is currently in discussions with additional institutions, including NatWest, regarding network membership.
RL1 Blockchain Network Launches, Processes Over €700 Million in Three Years
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Summary
RL1 blockchain news arrives as the network launches in Luxembourg, operated as a European cooperative by ten financial institutions. Built on the SWIAT infrastructure, RL1 supports tokenized assets and digital currencies. Founding members include ABN AMRO, DekaBank, and Natixis CIB. Over €700 million in transactions have been processed over three years. Henning Vollbehr leads RL1, with KfW and L-Bank providing ongoing support. The network upgrade represents a key milestone for regulated financial markets.
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