Today SWIAT announced the official launch of the Regulated Layer One (RL1) blockchain cooperative, with SWIAT transferring its DLT platform to the Luxembourg organization. SWIAT continues to be the technical partner. Additionally, the group announced two new founding members, Spanish wholesale bank Cecabank, and the French umbrella cooperative Crédit Mutuel.
RL1 is positioning itself as a European neutral collaborative network at an important time, with the Eurosystem’s Project Pontes going live in September, enabling onchain settlement of tokenized assets with central bank money including a wholesale CBDC.
There has been a slight reshuffle in the RL1 launch membership, with ten institutions involved. Five of them are German, and the other five are Dutch (ABN Amro), two French (Crédit Mutuel and Natixis CIB), Spanish (Cecabank) and British (SC Ventures). The full list of members includes ABN Amro, Cecabank, Chartered Investment, Crédit Mutuel, DekaBank, DZ Bank, LBBW, Natixis CIB, Standard Chartered’s SC Ventures and Boerse Stuttgart’s Seturion. Two additional German companies that were involved, L-BANK and KfW, are now described as supporters. KfW is one of the most prolific bond issuers globally. Two other previously announced members are no longer included, NatWest and V-Bank.
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