RL1, a member-owned blockchain cooperative, has begun operations with backing from 10 European financial institutions, including ABN AMRO, DekaBank and Natixis CIB. The initiative brings together major banks to jointly operate and govern a shared distributed ledger infrastructure.
What is RL1?
RL1 is structured as a cooperative blockchain network owned by its participating members. By operating as a consortium, the network is designed to align governance and decision-making among financial institutions while providing a common platform for blockchain-based services.
Member-owned governance
The cooperative model allows participating banks to share responsibility for network rules, operations and upgrades. This structure is intended to foster collaboration across institutions that must coordinate on standards and infrastructure when deploying distributed ledger technology.
Why it matters
European banks have been expanding their use of blockchain to modernize financial market infrastructure, improve operational efficiency and support new digital asset workflows. Member-owned networks like RL1 can help reduce integration costs and promote interoperability by offering a shared foundation maintained by the institutions that use it.
Participants
RL1 launches with 10 European financial institutions. Named participants include ABN AMRO, DekaBank and Natixis CIB; the remaining member institutions were not disclosed in the announcement.