European Banks Launch Cooperative Blockchain Network for Regulated Markets

European financial institutions have launched RL1, a cooperative blockchain network for regulated markets and tokenized assets. The group of 10 founding members includes ABN AMRO, DekaBank, Natixis CIB, and others. Each member has equal decision-making rights over the network's governance and development.

RL1 is based on infrastructure developed by German fintech SWIAT, which has transferred ownership to the cooperative. The platform has processed over 50 transactions worth more than €700 million during three years of production use.

The blockchain supports institutional use cases including digital money, tokenized bonds, collateral, and blockchain-based settlement. By sharing a single network, RL1 aims to reduce fragmentation caused by separate distributed ledger systems.