US - Regulated Liability Network

Industry Initiatives

Initiative Name	Regulated Liability Network US
Organization
Type	Lab
Description	The RLN concept explores the application of shared ledger technology to change this paradigm, potentially leading to a simpler way of synchronizing payments and settlements across the banking industry. RLN imagines a new financial market infrastructure that runs a shared ledger for participants. On this ledger, there are digital representations of central bank money and commercial bank deposit tokens. This creates an interoperable network for efficient settlement that might be extended to multiple currencies and assets. The RLN U.S. WG engaged in a proof of concept to explore the business applicability, technical feasibility, and legal viability of the RLN concept in the U.S. context. The PoC was limited to domestic and international payments denominated in U.S. dollars.
Ecosystem	Agnostic
Public Participants	BNY Mellon Citi HSBC Mastercard New York Innovation Center (NYIC) within the Federal Reserve Bank of New York PNC Swift Truist TD Bank U.S. Bank Wells Fargo
Link	https://www.rlnuspoc.org/home#subpage/introduction/section/w3rk7