Another key step for vLEI: GLEIF opens programme for digital identity issuers

Posted on July 15, 2022 by Editor

The Global Legal Entity Identifier Foundation (GLEIF) has launched an Issuer Qualification Program for the verifiable Legal Entity Identifier, or vLEI. This follows the recent first ever use of the vLEI in the signing of GLEIF’s annual report, and marks “another significant step toward realizing an ecosystem of digital identity for all legal entities everywhere.”

While over two million legal entities around the world already identify themselves internationally using an LEI, GLEIF “is now moving quickly to extend the system’s capabilities to offer a digital counterpart” that enables instant identity verification. Both existing and prospective partners are now invited to begin the vLEI Issuer Qualification process. Once this is complete, “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.” These are wide-ranging, from business transactions to – and this is where our interest lies – verifying identity when making digital disclosures, complementing XBRL in the reporting toolbox.

Read more here.

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