HSBC, JPMorgan’s Kinexys, Mitsubishi UFJ Financial Group, Societe Generale-Forge and Standard Chartered have jointly established Global Layer One Organisation, or GL1 Org, a Singapore-based nonprofit focused on tokenized financial market infrastructure. The organization will support common standards and frameworks for tokenized markets and promote interoperability among institutions, infrastructure providers and jurisdictions. GL1 Org is based on the Monetary Authority of Singapore’s GL1 initiative, which explores shared ledger infrastructure enabling regulated financial institutions to deploy tokenized assets.