10 European financial institutions launch RL1 blockchain network

Ten European financial institutions have launched RL1, a joint blockchain network for regulated financial markets and tokenized assets, Cointelegraph reported. RL1 was established in Luxembourg as a European Cooperative Society, with participants including ABN AMRO, DekaBank and SC Ventures. The network supports digital money, bond tokens, collateral management and blockchain-based settlement, and the participating institutions plan to jointly operate it with equal voting rights.