European financial institutions launch RL1 cooperative blockchain network

cointelegraphPublished on 2026-07-29Last updated on 2026-07-29

Abstract

Ten major European financial institutions, including ABN AMRO and Crédit Mutuel Alliance Fédérale, have launched the Regulated Layer One (RL1), a jointly owned blockchain cooperative. Established as a European Cooperative Society in Luxembourg, RL1 operates a private, permissioned network designed for regulated markets and tokenized assets like digital money and bonds. The network aims to reduce fragmentation by providing a shared platform for institutional use cases, having already processed over 50 transactions worth more than €700 million in three years. Governance and development decisions are shared equally among members. The initiative, led by former SWIAT MD Henning Vollbehr, is in talks with additional institutions like NatWest to join.

Ten European financial institutions have launched Regulated Layer One (RL1), a jointly owned blockchain cooperative designed for regulated financial markets and tokenized assets.

On Tuesday, the group announced that RL1 had been established as a European Cooperative Society in Luxembourg and had begun operations with founding members including ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures and Seturion.

RL1 said each member will have equal decision-making rights over the network’s governance and development.

The private, permissioned network is based on infrastructure developed by German fintech Secure Worldwide Interbank Asset Transfer (SWIAT), which has now transferred ownership of the network to the cooperative.

SWIAT said the platform has processed more than 50 transactions worth over 700 million euros (about $808 million) during three years of production use.

The blockchain is designed to support institutional use cases including digital money, tokenized bonds, collateral and blockchain-based settlement. RL1 said the shared network could reduce fragmentation caused by financial institutions operating separate distributed ledger systems.

Former SWIAT Managing Director Henning Vollbehr will lead RL1. KfW and L-Bank will continue supporting the initiative, while RL1 said it is in discussions with additional institutions, including NatWest, about joining the network.

Related: CoinShares debuts Bitcoin mining ETF in Europe entrance

Related Questions

QWhat is the RL1 cooperative blockchain network and what is its primary purpose?

AThe RL1 (Regulated Layer One) is a jointly owned blockchain cooperative launched by ten European financial institutions. Its primary purpose is to serve regulated financial markets and tokenized assets, aiming to reduce fragmentation in the industry by providing a shared network for institutional use cases like digital money, tokenized bonds, and blockchain-based settlement.

QWhich companies are the founding members of the RL1 cooperative?

AThe founding members of the RL1 cooperative are ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures, and Seturion.

QHow is the governance of the RL1 network structured among its members?

AEach member of the RL1 cooperative will have equal decision-making rights over the network's governance and development.

QWhat technology infrastructure is the RL1 network based on, and what is its track record?

AThe RL1 network is a private, permissioned network based on infrastructure originally developed by the German fintech company SWIAT (Secure Worldwide Interbank Asset Transfer). According to SWIAT, the platform has processed over 50 transactions worth more than 700 million euros (about $808 million) during three years of production use.

QWho will lead RL1, and which other institutions are mentioned as potential future participants?

AFormer SWIAT Managing Director Henning Vollbehr will lead RL1. KfW and L-Bank will continue supporting the initiative, and RL1 is in discussions with additional institutions, including NatWest, about joining the network.

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