HSBC, JPMorgan's Kinexys and three other banks launch GL1 tokenisation body
Five large banks have set up the Global Layer One Organisation, a Singapore-based nonprofit meant to develop shared standards and interoperability for tokenised financial markets. The founders are HSBC, Kinexys by JPMorgan, MUFG, Societe Generale-Forge and Standard Chartered. The group grows out of the Monetary Authority of Singapore's existing Global Layer One initiative and was announced in a joint statement on 4 November.