GLEIF certifies vLEI issuers in Hong Kong, Thailand

The Global Legal Entity Identifier Foundation (GLEIF) has named two more companies as issuers of its verifiable Legal Entity Identifier (vLEI): Hong Kong-based Certizen Technology and Thailand’s Finema.

As qualified vLEI Issuers, the two digital identity providers will be able to use the organizational identities to ensure secure and automated verification of organizations and their representatives.

Certizen Technology, an affiliate of Certizen Limited, plans to use the product for global interoperability and regional integration in the Greater Bay Area, which includes Hong Kong and Macao and large cities in Mainland China. The solution has already found use cases in industries such as education, healthcare, blockchain, Environmental, Social and Governance (ESG), and regulatory sectors, according to a press release.

Finema, on the other hand, says that the product will benefit SMEs by enabling them to securely present their financial credentials, easing access to international finance and trade opportunities. The company has become the first Southeast Asia-based Qualified vLEI Issuer.

GLEIF first introduced its vLEI to the world in 2020 as a digital version of the 20-digit LEI code allowing automated identity verification between counterparties operating across all industry sectors and across the globe. Its proof of concept was described in a 2021 brief for the Asian Development Bank while its standard was recently published by the International Organization for Standardization (ISO).

The product relies on decentralized technologies, offering control over personal data through self-sovereign identity (SSI).

GLEIF has been expanding its international footprint, opening offices in cities such as Mumbai, Tokyo and Singapore. In January, it announced an initiative with the UK business registry Companies House designed to improve the discoverability of UK businesses.

Article Topics

Certizen  |  digital identity  |  Finema  |  GLEIF  |  identity verification  |  KYB  |  KYC  |  Legal Entity Identifier (LEI)