Ten leading European financial institutions, including ABN AMRO, DekaBank, and Natixis CIB, have launched RL1, a new member-owned blockchain cooperative. This network aims to streamline financial operations using distributed ledger technology for its members.
A new blockchain network named RL1 has officially started operations. This project is a cooperative owned by its members, including ten major European financial institutions like ABN AMRO, DekaBank, and Natixis CIB. A blockchain cooperative means that these institutions collectively own and manage the network. Its goal is to use distributed ledger technology, which is a secure, shared digital record-keeping system, to improve and simplify how they conduct financial transactions and operations among themselves. This move highlights a growing interest in using blockchain for institutional finance.
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