Global Layer One (GL1)
Foundation Layer for Financial networks
A collaborative initiative between the public and private sectors to foster the development of a multi-purpose, shared ledger infrastructure, that will facilitate seamless cross-border financial transaction while meeting regulatory expections
GL1 Programmable Compliance Toolkit (preview)
The Programmable Compliance toolkit provides a framework for automated compliance checks and the enforcement of policy and regulatory requirements, such as anti-money laundering and capital flow management measures, in real time.
Motivation
Despite significant progress in asset tokenisation experimentations and pilots, the lack of suitable financial networks and technical infrastructures which financial institutions may use to execute digital asset transactions is limiting financial institutions’ ability to deploy tokenised assets at commercial scale.
To enable seamless cross-border transactions and unlock the full value of DLT, regulatory-compliant infrastructures that are designed around openness and interoperability are required.
Objectives of GL1
- Support the creation of multi-purpose networks.
- Enable applications ranging from payments, capital raising to secondary trading to be deployed.
- Provide a foundational infrastructure for hosting and executing transactions involving tokenized assets.
- Encourage the development of internationally accepted common principles, policies and standards to ensure asset and application interoperability internationally and across networks.
GL1 Focus Areas
Platform Development
- Explore the development of a foundational infrastructure for hosting and executing transactions involving tokenised assets*.
- Define the business, governance, risk, legal and technology requirements of the GL1 Platform.
*Tokenised assets may be assets across asset classes such as equities, fixed income, fund shares, etc.) or monies (e.g. commercial bank money, central bank money).
Ecosystem Development
- Principles – Alignment on governance, risk management controls and settlement arrangements conventions for cross border transactions.
- Specifications – Development of specifications for market infrastructures and asset lifecycle.
- Toolkits – Creation and provision of toolkits to foster an ecosystem of compatible market infrastructures where service providers operate under established industry norms to achieve regulatory compliance objectives.
Participating Industry Members and Policymakers
Global Financial Institutions
Policymakers
All copyright and other intellectual property rights in the publications available on this website, including publications developed by the Global Layer One Programmable Compliance Working Group ("GL1 PC WG Material") are owned by GL1 Org. Except as outlined below, all rights are reserved.