Wall Street is building the rails for tokenized finance, and five major banks just joined forces.
HSBC, JPMorgan’s Kinexys, MUFG, Société Générale-Forge and Standard Chartered have established Global Layer One Organisation (GL1 Org) in Singapore.
The mission:
Develop common standards for tokenized financial markets.
Connect financial institutions, infrastructure and jurisdictions.
Support shared-ledger infrastructure for regulated tokenized assets.
GL1 builds on an initiative by the Monetary Authority of Singapore (MAS) to explore how regulated institutions can issue and manage tokenized assets on shared infrastructure.
The interesting part? These banks aren't just experimenting with blockchain anymore. They're working on the standards that could connect the entire financial system.
Crypto spent years trying to get into traditional finance. Now traditional finance is building its own on-chain highway.
Who said TradFi was going to stay off-chain?
HSBC, JPMorgan’s Kinexys, MUFG, Société Générale-Forge and Standard Chartered have established Global Layer One Organisation (GL1 Org) in Singapore.
The mission:
Develop common standards for tokenized financial markets.
Connect financial institutions, infrastructure and jurisdictions.
Support shared-ledger infrastructure for regulated tokenized assets.
GL1 builds on an initiative by the Monetary Authority of Singapore (MAS) to explore how regulated institutions can issue and manage tokenized assets on shared infrastructure.
The interesting part? These banks aren't just experimenting with blockchain anymore. They're working on the standards that could connect the entire financial system.
Crypto spent years trying to get into traditional finance. Now traditional finance is building its own on-chain highway.
Who said TradFi was going to stay off-chain?
