10 European financial institutions launch Regulated Layer One, processing over 700 million euros in transactions

Ten European financial institutions have jointly launched Regulated Layer One (RL1), a network established and operated as a European cooperative in Luxembourg, targeting regulated financial markets and tokenized assets. The founding members of RL1 include ABN AMRO, Cecabank, Chartered Investment, Cr é dit Mutuel Alliance F é d é rale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures, and Seterion. The network is based on the infrastructure developed by Secure Worldwide Interbank Asset Transfer (SWIAT), which has transferred ownership to the cooperative. SWIAT processed over 50 transactions worth more than 700 million euros during its three-year production and usage period. RL1 is led by former SWIAT Managing Director Henning Vollbehr, with support from KfW and L-Bank. RL1 is currently in discussions with institutions such as NatWest to join the network.