Major global banks including HSBC, JPMorgan, MUFG, Société Générale, and Standard Chartered launch Singapore-based GL1 Org to develop infrastructure for tokenized finance.
RWA & Tokenization ·
Five major global banks—HSBC, JPMorgan, MUFG, Société Générale, and Standard Chartered—have established GL1 Org, a Singapore-based organization focused on developing infrastructure for tokenized finance. The initiative marks a coordinated effort by leading institutions to build technical and operational frameworks supporting the issuance and settlement of digital assets.
Standard Chartered, one of the consortium members, has positioned itself as a primary institutional bridge between traditional finance and crypto markets. The bank operates an integrated stack spanning custody through its Zodia platform, Hong Kong stablecoin issuance, fiat settlement rails, and research on real-world asset tokenization. This multi-layered approach reflects how major banks are structuring their digital-asset capabilities across custody, issuance, and advisory functions.
The exact governance structure, timeline for infrastructure rollout, and specific technical standards GL1 Org will prioritize remain unclear. It is also unknown whether additional banks plan to join the consortium or what regulatory frameworks the group expects to navigate across different jurisdictions.