According to the Business Times, HSBC, Kinexys (a subsidiary of JPMorgan Chase), Mitsubishi UFJ Financial Group, Societe Generale-Forge (a subsidiary of Societe Generale), and Standard Chartered Bank have established the non-profit Global Layer One Organisation (GL1 Org) in Singapore to promote the development and adoption of common standards and frameworks for the tokenized finance market. This organization will continue the work of the Monetary Authority of Singapore's GL1 initiative, facilitating interoperability among different institutions, infrastructures, and jurisdictions. https://www.(wublock123.com)/news/hsbc-jpmorgan-and-three-banks-launch-gl1-org-tokenized-finance-standards-71365