The regulated blockchain operating system.
L3COS places the regulator inside consensus. Every asset, every payment and every transfer on the ledger inherits its legal status from the sovereign tier, at the protocol level, before anything settles.
Designed from 2013. In 2020 it delivered an operational central bank digital currency prototype inside the Bank of England’s sandbox. Today it is the architecture beneath Fiat-on-Chain, the L3RS-1 standard and T3RRA.
One architecture. Three products that clear together.
Tokenization only transforms a market when the cash, the asset and the compliance rules settle on one rail at one moment. L3COS is that rail. Three products run on it, each owning one layer.
A settlement protocol for tokenized bank deposits anchored in central-bank money. The deposit stays the bank’s liability; the token is the ledger posting; settlement between banks runs through the RTGS under a supervisor’s node.
fiatonchain.comThe Layer-3 Regulated Asset Standard: an open, royalty-free specification that embeds eligibility, transfer rules and governance in the asset itself. Authored by the founder of L3COS and governed by the independent L3RS Foundation.
l3rs.foundationThe settlement layer for compliant tokenized capital markets. Delivery-versus-payment between the cash leg and the asset leg, with the instrument’s rules enforced at the moment of transfer rather than by a transfer agent afterwards.
t3rra.coThree tiers of consensus on one ledger, with regulators and central banks at the apex. The rule of law is a protocol primitive, not a wrapper.
TechnologyThree tiers. Three consensus algorithms. One ledger.
Sovereignty is tiered, so consensus must be tiered. Each tier runs the algorithm suited to its role; all three write to a single ledger whose constitutional anchor sits at the top.
Sovereigns
Regulators, central banks and ministries of finance operate the super-node under Proof of Government. They set the rules, anchor the ledger and supervise it continuously from infrastructure they control.
Enterprises
Banks, issuers and market operators run block-producing witnesses elected by stake under Delegated Proof of Stake. Commercial throughput, under sovereign oversight inherited from the tier above.
Account holders
Investors and end users hold accounts with attested identity and inherited legal status. Their rights are defined by the ledger’s constitutional anchor, not by a private operator’s terms of service.
Built, run and proven before the standard was written.
L3RS-1 was not designed on paper. It was abstracted from six years of L3COS deployments across central banking, trade finance, payments and private assets, then published as an open standard in February 2026.
2020
Bank of England CBDC prototype
An operational central bank digital currency prototype delivered inside the Bank of England’s sandbox, enforcing emergency freeze, balance seizure and forced redemption at the protocol layer.
2021 to 2024
Agricultural trade, payments, private assets
AgriDex for cross-border agricultural trade finance; Fiat-on-Chain for deposit-anchored payments; CleverJet for fractional private-aviation ownership. One compliance engine across four asset classes.
2026
L3RS-1 published, T3RRA live
The Layer-3 Regulated Asset Standard v1.0.0 published by the L3RS Foundation on February 24, 2026. T3RRA, the settlement layer, operating on it. The full record is on the press page.
Zurab Ashvil
Founder and architect, L3COS. Founder and CEO, T3RRA. Chair, L3RS Foundation.
“Every blockchain before this one asked the regulator to trust the code. L3COS was built so the code answers to the regulator.”
Zurab Ashvil has built, financed and unwound market infrastructure before L3COS. In 1991 he created TICEX, the Tbilisi Interbank Currency Exchange, with the National Bank of Georgia; it was the country’s first regulated FX market and was later absorbed into the central bank. In 1995 he joined SoftBank’s US operations among its earliest employees and became a senior executive at SoftBank Capital. In 2008 the Securities Investor Protection Corporation appointed him to the Lehman Brothers liquidation. He holds a PhD in Cybernetics and Applied Mathematics from Tbilisi State University.
Institutional enquiries.
L3COS does not run a retail product. Governments, central banks, regulated enterprises and institutional counterparties are welcome.