European Banks Unite for Pan-European Blockchain Cooperative

Ten leading European financial institutions have joined forces to launch Regulated Layer One (RL1), a cooperative blockchain network for issuing tokenized bonds, digital money, and interbank settlements.

The initiative is structured as a European Cooperative Society, headquartered in Luxembourg, and each participant has equal voting rights in network governance and development.

The RL1 platform is built on SWIAT's infrastructure, which has processed more than 50 transactions worth over €700 million in three years. Former SWIAT Managing Director Henning Volber has been appointed head of RL1.

The cooperative aims to overcome network fragmentation in the regulated financial sector and create a neutral, pan-European DLT infrastructure for tokenized assets, digital money, and next-generation financial services.