A consortium of leading European financial institutions has launched Regulated Layer 1 (RL1), a blockchain network designed to provide a unified distributed ledger infrastructure for regulated financial institutions across Europe. The initiative brings together major banks from Germany, France, the Netherlands, and other European countries to address fragmentation in blockchain-based financial services while supporting tokenized assets and digital payments.
RL1 Focuses on Tokenized Assets, Payments, and Financial Interoperability
RL1 formally announced the establishment of a European Cooperative (SCE) in Luxembourg on July 28, providing the governance framework for the network. The cooperative includes 10 financial institutions, among them Germany’s DekaBank, DZ Bank, Landesbank Baden-Württemberg (LBBW), France’s Natixis Corporate & Investment Banking, the Netherlands’ ABN AMRO, Belgium’s Centeurion and other European banking organizations participating in the initiative.
RL1 has been launched by a consortium of 10 European financial institutions to establish a regulated, cooperative blockchain network that unifies blockchain infrastructure for financial institutions across Europe.
According to the announcement, RL1 is intended to function as a neutral and regulated distributed ledger network capable of improving interoperability among European financial institutions. Historically, banks and financial organizations throughout Europe have developed blockchain initiatives independently, often resulting in isolated systems with limited compatibility. RL1 seeks to overcome these barriers by creating a shared blockchain infrastructure that supports cross-institutional collaboration and more efficient financial services.
The network is built on blockchain technology developed by Frankfurt-based SWIAT, whose major shareholders include DekaBank and LBBW. The platform has been designed to facilitate the use of tokenized real-world assets (RWAs), digital currencies, and blockchain-enabled payment infrastructure while operating within a regulated financial environment.
Unlike projects primarily focused on issuing stablecoins, RL1 places greater emphasis on creating payment infrastructure capable of supporting blockchain-based settlement across regulated institutions. The announcement contrasted RL1 with the Qivalis initiative, a euro stablecoin project launched in late 2025 with participation from 10 banks, including ING, UniCredit, and BNP Paribas. Qivalis is targeting the issuance of a euro-denominated stablecoin during the second half of 2026, whereas RL1 is concentrating on building the underlying payment network for institutional financial transactions.
The overlap between the two initiatives is reflected in DekaBank’s participation in both RL1 and Qivalis, highlighting growing institutional interest in blockchain-based financial infrastructure that combines payment systems with tokenized assets.
The blockchain network is built on SWIAT technology and is designed to improve interoperability among European banks while supporting tokenized real-world assets, digital currencies, and regulated payment infrastructure.
The RL1 announcement coincided with broader developments in the digital payments sector. Global payments company Visa outlined an expanded stablecoin strategy during its fiscal third-quarter earnings announcement, emphasizing blockchain-based settlement, tokenized deposits, and on-chain wallet infrastructure.
Visa stated that it had joined the Open Standard Consortium, which aims to develop OpenUSD stablecoins for global fund transfers. The company also indicated that it plans to enable partner organizations to settle transactions directly with Visa using stablecoins through its dedicated stablecoin platform.
In addition, Visa disclosed plans to provide wallet-as-a-service infrastructure operating on blockchain networks and facilitate transfers between traditional fiat currencies and stablecoins. These capabilities are expected to be initially centered on the OpenUSD ecosystem.
The payments company also indicated that it intends to expand stablecoin applications beyond consumer payments by incorporating them into broader financial infrastructure supporting settlement and fund movement. Tokenized bank deposits are expected to form part of that strategy through integration with financial software provider Pismo, enabling support for blockchain-based digital deposits within the banking sector.
The launch of RL1 reflects a broader acceleration among global financial institutions toward regulated blockchain infrastructure, with payment networks, tokenized assets, stablecoins, and digital deposits becoming increasingly integrated into mainstream financial services.
The establishment of RL1 represents another milestone in Europe’s ongoing digital finance transformation. By bringing together leading banks under a shared blockchain framework, the initiative aims to reduce infrastructure fragmentation, enhance interoperability, and provide a regulated foundation for future applications involving tokenized securities, digital currencies, and institutional payment networks across the European financial system.
