10 European Financial Institutions Establish RL1 Blockchain Collaboration Network, Targeting Regulated Financial Markets and Tokenized Assets
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10 European Financial Institutions Establish RL1 Blockchain Collaboration Network, Targeting Regulated Financial Markets and Tokenized Assets
According to Cointelegraph, 10 European financial institutions have jointly launched the blockchain cooperative Regulated Layer One (RL1), which has commenced operations in Luxembourg as a European cooperative society. The network targets regulated financial markets, focusing on supporting institutional-grade applications such as digital currencies, tokenized bonds, collateral, and on-chain settlement.
Navigating Web3 tides with focused insightsTechFlow 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.
