European Banks Unite on RL1 Blockchain to Power €800M+ Tokenized Finance Network

The regulated financial sector in Europe has taken another significant step towards full institutional blockchain adoption with the launch of RL1, a new blockchain network that brings together some of the largest European banks under one shared infrastructure.

RL1 officially opened its doors as a European Cooperative Society (SCE) on July 28, with headquarters in Luxembourg. The cooperative membership comprises ABN AMRO, DekaBank, DZ BANK, Chartered Investment, Cecabank, Crédit Mutuel Alliance Fédérale, LBBW, Natixis CIB, SC Ventures and Seturion.

RL1 uses infrastructure that has already handled more than €700 million in transactions. The blockchain network targets tokenized assets and regulated digital finance, with the ultimate goal of offering a shared blockchain environment where Europe's financial sector can transition from individual pilot projects to high-volume, blockchain-based financial assetization.

The platform seamlessly integrates with SWIAT's current apps, enabling financial institutions to launch tokenized bonds, regulated digital securities registries, and other financial services using blockchain without having to rebuild their technology.