AI & RWA
GL1 Org launches with HSBC and JPMorgan on its member list. What will it build?
Global financial institutions have formed the Global Layer One Organisation to push shared rules for tokenized markets. Its site lists HSBC, JPMorgan, MUFG, Forge and Standard Chartered as members. The project began at Singapore's central bank in 2024.
Guides
Singapore crypto rules explained: who needs a MAS license, and who won't get one
Crypto firms serving customers in Singapore need a license from the Monetary Authority of Singapore, mainly under the Payment Services Act 2019. Since June 30, 2025, Singapore firms that serve only overseas customers also need a license, and MAS says it will generally not grant one.
Policy
No interest, par redemption, stress tests: Singapore drafts its stablecoin law
MAS wants to ban interest on MAS-regulated stablecoins and recognize a few foreign ones. Seven weeks later, the central banks of Malaysia and Thailand joined its BLOOM project for cross-border digital money.