Regulated Layer One (RL1), Europe's neutral, collaborative DLT network developed specifically for regulated financial markets, today announces the establishment of a European Cooperative Society (SCE) based in Luxembourg. RL1 will be led by Henning Vollbehr, who has been appointed Managing Director of the SCE. Vollbehr has before led SWIAT as Managing Director. The SCE brings together leading financial institutions to overcome the current fragmentation of blockchain networks within the regulated financial sector and to create a neutral, member-owned, pan-European DLT utility for tokenised assets, digital money and next-generation financial markets use cases. All RL1 members benefit from equal decision-making rights, influence over the network's further development and direct access to a functioning ecosystem at an institutional level.