Key facts
- Ten European financial institutions have launched a blockchain cooperative.
- The cooperative is named Regulated Layer One (RL1).
- RL1 is based in Luxembourg.
- The network is designed for regulated financial markets.
- RL1 is intended for tokenized assets.
- The initiative aims to reduce industry fragmentation.
- ABN AMRO is one of the participating institutions.
- DekaBank is one of the participating institutions.
A new blockchain cooperative, Regulated Layer One (RL1), has been launched by ten European financial institutions. Based in Luxembourg, RL1 is a member-owned network specifically designed for regulated financial markets and the tokenization of assets. The initiative aims to address and reduce fragmentation within the European financial industry by providing a common, shared infrastructure for financial transactions. Among the founding members are prominent institutions such as ABN AMRO and DekaBank, indicating a significant collaborative effort among these entities to advance the adoption and integration of blockchain technology in regulated financial sectors. The establishment of RL1 represents a move towards creating more unified and efficient systems for handling tokenized assets and other financial instruments within a regulated framework.