The Global Legal Entity Identifier Foundation (GLEIF) and vLEI By NordLEI today announce that vLEI By NordLEI has become the first Europeanbased Qualified vLEI Issuer (QVI) within the verifiable Legal Entity Identifier (vLEI) ecosystem. vLEI By NordLEI is a subsidiary of NordLEI, the leading LEI issuer in Scandinavia and eighth largest globally, with more than 165,000 LEIs issued since 2014.
The vLEI is a new form of digitized organizational identity that meets the global need for automated authentication and verification of legal entities across a variety of industries. By wrapping new and existing LEIs in digital credentials that can be verified, the vLEI offers a digitally trustworthy version of the LEI which can be used to verify the identities of legal entities and their authorized representatives across a rapidly growing number of automated interactions. The vLEI can be used as a signing tool for corporate, digital identity and persons with delegated signing authority rights. Using the vLEI, government organizations, companies, and all legal entities will be able to confirm ownership structures and authorized representations in a growing number of digital business activities. Examples of known use cases include approving business transactions and contracts, onboarding customers, transacting within import/export and supply chain business networks, and submitting regulatory filings and reports.
The vLEI ecosystem utilizes the existing Global LEI System as the only open, standardized, and regulatory-endorsed system for legal entity identification. It is based on the Trust over IP Governance metamodel and leverages open standards including the ACDC (Authentic Chained Data Container) specification, the KERI (Key Event Receipt Infrastructure) protocol for key management, and the CESR (Composable Event Streaming Representation) capabilities for secure digital signing.