Last year Citi’s Tony Mclaughlin outlined his vision of the Regulated Liability Network, an enterprise blockchain network spanning central banks, commercial banks and other institutions to enable the regulated sector to fight the “digital money format war”. Today Digital Asset and SETL announced they are collaborating to develop a new blockchain protocol that will underpin this network.
The purpose of the RLN is to enable institutions to achieve true atomic settlement between tokenized assets, whether that’s currencies for cross border payment or settlement of tokenized securities. And that settlement – for both central and commercial banks – will be on a single network. That’s not to say the RLN will be an island, but the goal is to develop one network.
This collaboration is far more than an agreement to use each other’s technology. Each will contribute their expertise to develop a new protocol.
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