Ten leading financial institutions from Europe have introduced Regulated Layer One (RL1), a collaborative blockchain aimed at strengthening regulated financial markets and accelerating the adoption of tokenized assets. The cooperative marks a significant step in using blockchain technology to standardize and streamline digital finance in the region.
Joint venture in Luxembourg begins operations
The founding members announced on Tuesday that they have established RL1 as a European Cooperative Society, headquartered in Luxembourg. Key participants include ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures, and Seturion.
Each member of the cooperative holds equal rights in making decisions regarding the network’s governance and development, ensuring a transparent and democratic structure among participants.
RL1’s operations are grounded in technology initially developed by German fintech Secure Worldwide Interbank Asset Transfer (SWIAT). SWIAT has already transferred the network’s ownership to the newly formed cooperative, enabling the banks to collectively manage and expand the platform.
Network features and early achievements
The RL1 blockchain operates as a private, permissioned network, specifically designed to accommodate institutional needs. Use cases include digital money, tokenized bonds, collateral management, and streamlined blockchain-based settlement.
According to SWIAT, the platform has already processed over 50 transactions totaling more than 700 million euros (approximately $808 million) during three years of in-production use. This track record demonstrates practical viability in handling large-scale financial activity securely and efficiently.
The initiative seeks to address the challenge of market fragmentation caused by banks and financial institutions deploying separate distributed ledger systems. By offering a shared platform, RL1 aims to foster interoperability across stakeholders, thereby simplifying complex financial processes.
Leadership, future plans, and industry synergy
Henning Vollbehr, previously Managing Director of SWIAT, now leads RL1 as its chief executive. Industry sources indicated that both KfW and L-Bank will continue their support for the cooperative’s further development.
RL1 is also in talks with additional partners, including NatWest, about joining the consortium, which could further broaden the scope and influence of the network in the European financial sector.
In a financial landscape increasingly embracing distributed ledger technology, platforms like RL1 are becoming more vital for regulated markets. The cooperative model enables participating institutions to collectively shape the rules and structure of the network to best suit the evolving regulatory standards.
Each participating financial institution gains an equal say in governance, allowing for a balanced and collaborative approach that aims to benefit all members through shared technology, risk management, and cost-efficient innovation.
As digital asset adoption grows, there is greater emphasis on solutions that link traditional finance and blockchain seamlessly. One such example is 1stepSwap, a platform that integrates real-world assets with blockchain technology. By making shares of major U.S. companies and commodities like gold and silver directly accessible through a user’s wallet, without intermediaries or complex processes, the platform enables fast transactions at optimal market prices and supports broader portfolio diversification.
The formation of RL1 demonstrates continued momentum for integrating regulated finance and digital assets in Europe, as large institutions commit resources to building scalable blockchain infrastructure for the future.
