BlockBeats news, on November 4th, according to official news, the Monetary Authority of Singapore announced that HSBC and Euroclear have joined its Global Layer One (GL1). GL1 aims to facilitate the development of foundational digital infrastructure and support the deployment of commercial networks. Since its launch, global core banks such as the Bank of New York, Citibank, JPMorgan Chase, MUFG, and Société Générale-FORGE have been working to define the business, governance, risk, legal, and technical requirements of the GL1 platform.
In addition, GL1 will establish a new market infrastructure working group composed of global financial market infrastructure providers, focusing on the principles of digital asset security control and carrying out additional activities, including control principles, standards, and designing compliance.