Five major global financial institutions announced on 4 November 2026 the launch of the Global Layer One Organisation (GL1 Org) in Singapore, aiming to develop common standards and infrastructure for blockchain-based financial markets.
The organisation was established by HSBC, MUFG Bank, Standard Chartered, Kinexys by J.P. Morgan and Société Générale-FORGE to help banks and financial institutions use tokenised assets more easily across different networks.
The new organisation builds on the Global Layer One (GL1) initiative, which was developed with support from the Monetary Authority of Singapore (MAS) and financial industry partners.
GL1 aims to address one of the main challenges facing digital finance: the lack of common systems that allow banks and financial platforms to transfer and manage tokenised assets across borders.
Currently, many financial institutions operate on separate blockchain networks, making it difficult to connect services and complete transactions between different platforms.
By developing shared standards, GL1 Org aims to make these systems work together while meeting financial regulations and security requirements.
The initiative focuses on supporting financial activities such as cross-border payments, asset trading, settlement and the management of tokenised financial products.
It also aims to help financial institutions move beyond small-scale blockchain testing and bring more digital asset services into everyday financial operations.
The organisation will support the wider adoption of GL1’s Market Infrastructure Toolkit and Programmable Compliance framework, which provide guidance on building secure digital financial networks and meeting regulatory requirements.
These tools are designed to help banks assess blockchain infrastructure, manage risks and apply compliance checks to digital transactions.
The launch reflects growing cooperation between major banks and regulators as financial institutions explore ways to use blockchain technology in traditional financial markets.
By creating common standards for tokenised assets, GL1 Org aims to support faster transactions, improve connections between financial networks and help develop a more efficient global digital financial system.
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