The European Central Bank, the European Commission, and the European Securities and Markets Authority (ESMA) have jointly opened applications for membership in the European Tokenization Standards Group (ETSG), with a deadline of November 27. The group will develop unified standards for tokenized financial ecosystems, establish compliance monitoring frameworks, and advise EU authorities on incentivizing regulatory adherence. The ETSG will be chaired by industry representatives, with the three institutions serving as observers. The initiative stems from the Market Integration and Supervision Package (MISP) proposed by the European Commission in December 2025, which mandates post-trade institutions to drive interoperability between DLT infrastructures and establish corresponding technical standards.