European Banks Unite on RL1 Blockchain Cooperative

Ten European financial institutions have joined forces to launch Regulated Layer One (RL1), a blockchain cooperative designed for regulated markets and tokenized assets. The group, which includes ABN AMRO, DekaBank, and Natixis CIB, announced the establishment of RL1 as a European Cooperative Society in Luxembourg on July 29, 2026.

Each member will have equal decision-making rights over the network's governance and development. The private, permissioned network is built on infrastructure developed by German fintech Secure Worldwide Interbank Asset Transfer (SWIAT), which has now transferred ownership to the cooperative.

The blockchain platform has already processed over 50 transactions worth more than 700 million euros ($808 million) during three years of production use. RL1 aims to reduce fragmentation caused by financial institutions operating separate distributed ledger systems.