Five global banks form GL1 Org to set tokenised market standards

The organisation will push for the adoption of two frameworks developed by MAS’ GL1.

HSBC, MUFG Bank, Standard Chartered, Kinexys by J.P. Morgan, and Societe Generale-FORGE have jointly established the Global Layer One Organisation (GL1 Org) in Singapore to support the establishment of common standards and frameworks for tokenised financial markets.

GL1 Org is a non-profit organisation that builds on the work of Global Layer 1 (GL1), an initiative spearheaded by the Monetary Authority of Singapore (MAS) and global financial institutions and policymakers.

GL1 Org will support the continued development and adoption of the frameworks developed by MAS’ GL1, which include the GL1 Market Infrastructure (MI) Toolkit and the GL1 Programmable Compliance (PC) Toolkit.

The GL1 MI Toolkit is a framework of controls that assess the suitability of market infrastructure and support market participants in designing their infrastructure.

The GL1 PC Toolkit is touted as “a structured approach to embedding regulatory and policy requirements into digital financial infrastructure.”

GL1 Org’s establishment transitions GL1 into an industry-led organisation that advances the next phase of the initiative’s work, according to a joint statement on 4 November 2026.

GL1 Org said that it welcomes participation from financial institutions, policymakers, market infrastructure providers, fintechs, and other stakeholders across countries and jurisdictions.

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