European financial institutions launch RL1 cooperative blockchain network

RL1 began operations as a member-owned blockchain cooperative backed by 10 European financial institutions, including ABN AMRO, DekaBank and Natixis CIB.

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.

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