Five Financial Institutions Form GL1 Org to Develop Tokenized Market Standards
Photo: TokenPost
Five financial institutions have formed a Singapore-based nonprofit to develop common standards for tokenized financial markets, aiming to improve connections across institutions, market infrastructure and jurisdictions. The Global Layer One Organisation (GL1 Org) announced its formation Nov. 4. Its founding participants are HSBC, Kinexys by JPMorgan, Mitsubishi UFJ Financial Group, Societe Generale-Forge and Standard Chartered. GL1 Org will build on the Monetary Authority of Singapore (MAS)'s Global Layer One initiative. Its work aims to improve interoperability among financial institutions, market infrastructure and jurisdictions, allowing them to work together across networks.
Source: TokenPost
