{
  "id": 18097383,
  "title": "HSBC, JPMorgan, MUFG, SocGen, Stanchart tie up to boost tokenised financial markets infrastructure",
  "url": "https://urgent.news/2026/11/04/hsbc-jpmorgan-mufg-socgen-stanchart-tie-up-to-boost-tokenised",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-04T08:16:09.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/hsbc-jpmorgan-mufg-socgen-stanchart-tie-boost-tokenised-financial-markets-infrastructure"
  },
  "original_language": "en",
  "account": "Five major banks - HSBC, JPMorgan, MUFG, Societe Generale-Forge, and Standard Chartered - have formed a joint venture in Singapore to strengthen the infrastructure for tokenized financial markets. Known as the Global Layer One Organisation (GL1 Org), this non-profit entity aims to promote the development and acceptance of shared standards and frameworks. The banks assert that tokenization can enhance market speed, efficiency, and interconnectedness, but trust in the underlying infrastructure is crucial for realizing these benefits. GL1 Org complements the Monetary Authority of Singapore's (MAS) existing GL1 initiative, which focuses on creating a shared ledger infrastructure for regulated financial institutions across various jurisdictions. Since its inception, GL1 has established a control framework to evaluate market infrastructure suitability and guide market participants in designing their systems. Furthermore, it has developed a structured approach to integrate regulatory and policy requirements into digital financial infrastructure. GL1 Org will now focus on advancing these frameworks, fostering interoperable digital financial infrastructure, and facilitating connectivity among institutions, infrastructures, and jurisdictions. The organization warmly invites participation from financial institutions, policymakers, market infrastructure providers, fintechs, and other stakeholders from around the world.",
  "summary": "GL1 Org builds on MAS’ GL1 initiative, which explores the development of a shared ledger infrastructure",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}