News & Media Press Releases

GLEIF Advances Digital Trust and Identity for Legal Entities Globally

  • Date: 2020-12-10

Following a series of 2020 research initiatives, GLEIF has invited stakeholders from across the digital economy to engage in a cross industry development program to create an ecosystem and credential governance framework, together with a technical supporting infrastructure, for a verifiable LEI (vLEI), a digitally verifiable credential containing the LEI.

The vLEI will extend the Global LEI System to create a fully digitized LEI service capable of enabling instant and automated identity verification between counterparties operating across all industry sectors, globally. It will give government organizations, companies and other legal entities worldwide the capacity to use the LEI’s non-repudiable identification data in a growing number of digital business activities, such as approving business transactions and contracts, onboarding customers, transacting within import/export and supply chain business networks and submitting regulatory filings and reports.

Download supporting quotes from the vLEI ecosystem as PDF