European Finance Firms Launch Regulated Tokenized Market Network RL1

RL1, a Luxembourg-based European Cooperative Society, launched on July 28 as the new owner of a regulated tokenized market and digital money network. The cooperative is owned by 10 financial institutions, including ABN AMRO, Cecabank, and Natixis CIB.

The founding group has equal governance rights over the network's development and operation. A general assembly, supervisory board, and operational management board will oversee decision-making. RL1's private permissioned network is open to additional regulated financial-market participants.

RL1 inherited a production record from SWIAT, which operated for three years before ownership was transferred. The platform processed over 50 transactions worth more than €700 million, according to the launch statement. However, these figures refer to activity completed by SWIAT and not RL1 itself.

NatWest is expected to join RL1 soon, while KfW and L-Bank continue supporting network expansion efforts. The cooperative aims to support tokenized bonds, funds, real-world assets, collateral, repo transactions, securities lending, and digital money. A practical test of RL1's capabilities will come through KfW's third blockchain bond.

The European Central Bank's Pontes infrastructure is expected to launch in the third quarter of 2026, connecting market DLT platforms with the Eurosystem's TARGET Services. This could shape RL1's adoption and growth as a key player in Europe's digital financial market.