European banks blockchain network launches with 10 members

Ten major European financial institutions have launched RL1, a blockchain network they own and operate together, according to Cointelegraph. The participating banks include ABN AMRO, DekaBank and Natixis CIB, with each member sharing governance of the infrastructure.

This european banks blockchain network represents a shift in how established financial institutions approach distributed ledger technology. Rather than building in isolation or relying on external blockchain providers, these banks have pooled resources to create a shared platform.

Why this structure matters

The european banks blockchain network operates as a cooperative, meaning the participating institutions collectively own and control it. This is fundamentally different from either joining a public blockchain (where no single entity controls the network) or using a platform owned by a single technology company.

In a cooperative model, decisions about how the network evolves, which features get prioritised, and how it is governed rest with the member banks themselves. No external company holds veto power or takes a percentage of transaction fees as profit. Each member has a voice proportional to their stake.

This structure has a real cost benefit. Banks can negotiate fees internally rather than paying a third party. They can also customise the rules and features to match banking regulations across Europe, rather than adapting to a platform designed for a global, unregulated audience.

The european banks blockchain network also reduces counterparty risk. If the network were built on infrastructure owned by a single fintech company, that company’s failure, a cyberattack on its systems, or regulatory action against it could disrupt all members. A cooperative shares that technical and operational burden.

What this reveals about banking and blockchain

The launch of this european banks blockchain network shows that established financial institutions view blockchain technology as worth integrating into core operations, but on their own terms. They are not waiting for a single dominant platform to emerge.

Banks have historical reasons for caution. They are heavily regulated, hold customer deposits, and face liability if systems fail. Public blockchains like Ethereum are designed for decentralisation and permissionless access, which can conflict with banking rules around know-your-customer checks and transaction controls.

A cooperative european banks blockchain network lets members set those rules upfront. It also gives them collective power to negotiate with regulators as a bloc rather than individual companies.

Will other banks join RL1?

That is not yet known. The current membership of 10 institutions suggests a deliberate starting group, likely chosen for compatibility in size, geography, or existing relationships. Whether RL1 will grow, remain a closed group, or fragment into competing networks depends on how useful the platform proves and whether the governance model works smoothly in practice.

What this means for you

The emergence of european banks blockchain network infrastructure does not directly change how most people bank. But it signals how financial institutions are adopting blockchain technology behind the scenes.

• If you use banking services from one of these 10 institutions, you may benefit from faster cross-border payments or settlement in future, once the network matures and integrates with their customer-facing systems
• If you work in banking or fintech, this shows that blockchain adoption is shifting from startups and public protocols toward established institutions building private, cooperative networks
• If you hold cryptocurrency, this demonstrates that traditional banks see blockchain as infrastructure worth building, not a threat to dismiss, though their approach remains separate from public crypto networks

For deeper analysis of how banks are experimenting with blockchain technology and what cooperative models mean for financial infrastructure, explore Thewealthora’s guide to blockchain in banking and fintech adoption trends.

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Originally reported by Cointelegraph. Facts verified; analysis and wording are Thewealthora’s own.

Arpit Soni

The Thewealthora desk covers markets, money and personal finance, with zero jargon and every claim sourced.