[ECB and Others Call for Industry Members to Form European Tokenisation Standards Group, with First Standards Planned for Early 2028] Foresight News reports that the European Central Bank (ECB), in conjunction with the European Commission and the European Securities and Markets Authority (ESMA), has announced a call for members from the wholesale financial industry to form the European Tokenisation Standards Group (ETSG). This group will develop common standards for the tokenized finance ecosystem. EU industry associations, private companies, global institutions, fintech companies, and technology providers offering tokenized or DLT financial services are eligible to apply, with the application deadline being November 27th. The group will be chaired by an industry representative, with the three institutions participating as observers. According to the ECB's authorization document, the group will begin work in January 2027 to develop technical and market standards for the holding and settlement of tokenized securities across different distributed ledger technology (DLT) platforms. The goal is to release the first standards in early 2028, which will serve as part of Appia, the Eurosystem's blueprint for tokenized finance markets. The group will also establish a framework for monitoring the implementation of standards and may make recommendations on how EU authorities can incentivize companies to adopt the relevant standards. The three organizations stated that market fragmentation could hinder the effectiveness of tokenization.