GLEIF Establishes Global Digital Trust Ecosystem of Business Identity with Launch of verifiable LEI Issuer Qualification Program
Qualification process declared ‘open’ to future vLEI issuers
The Global Legal Entity Identifier Foundation (GLEIF), took another significant step toward realizing an ecosystem of digital identity for all legal entities everywhere, with the launch of the verifiable LEI Issuer Qualification Program.
Over two million legal entities around the world already identify themselves internationally using an LEI (Legal Entity Identifier), a global business identity system backed and overseen by the G20, the Financial Stability Board (FSB) and a group of worldwide public authorities. To encourage broader LEI adoption by legal entities everywhere, GLEIF, the official guardian of the global LEI system, is now moving quickly to extend the system’s capabilities to offer a digital counterpart to the LEI – the vLEI (verifiable LEI).
By adopting the LEI and vLEI, businesses everywhere will be able to automatically establish computational trust with partners, customers, or governments in a wide variety of day-to-day transactions and interactions.
GLEIF now invites both existing and prospective partners to begin the vLEI Issuer Qualification process. Once organizations have completed this process, businesses may obtain vLEI digital identity credentials from these issuers for use in all kinds of domestic and cross-border engagements in which computational trust is required. Becoming a member of the Global LEI System via GLEIF accreditation is a globally recognized designation of commitment to data quality and customer service.