Overview
- RL1 formally opened on July 28, 2026 when SWIAT transferred its production distributed‑ledger platform to a Luxembourg‑based cooperative that retained SWIAT as technical operator.
- Ten founding financial institutions own the cooperative with equal voting rights, including ABN AMRO, DekaBank, DZ Bank, Natixis CIB, Crédit Mutuel, Cecabank, LBBW, Chartered Investment, SC Ventures and Seturion, and NatWest is reported as joining soon while KfW and L‑BANK are listed as supporters.
- The cooperative inherits SWIAT’s live track record of more than 50 transactions worth over €700 million, but validator and application migrations from existing operators to RL1 are still planned rather than complete.
- Near‑term technical milestones include an autumn migration of KfW’s third blockchain bond registrar to DekaBank and RL1 and a planned connection to the Eurosystem’s Pontes settlement service expected in the third quarter of 2026.
- RL1 is positioned to align with EU rule‑making on tokenization such as MiCA and the DLT Pilot Regime, offering banks a compliant venue for tokenized securities that could speed issuance and allow settlement in central‑bank money if broader membership and technical integrations scale up.