10 European Financial Institutions Establish RL1 Blockchain Collaboration Network, Targeting Regulated Financial Markets and Tokenized Assets

TechFlow news, July 29, according to Cointelegraph, 10 European financial institutions jointly launched the blockchain cooperative Regulated Layer One (RL1), which has started operations in Luxembourg in the form of a European Cooperative Society. The network is oriented towards regulated financial markets, focusing on supporting institutional-level applications such as digital currencies, tokenized bonds, collateral, and on-chain settlement.

RL1 adopts permissioned blockchain infrastructure developed by German fintech company SWIAT, which has transferred network ownership to the cooperative. RL1 stated that the shared network helps reduce market fragmentation caused by financial institutions building distributed ledger systems individually.