The China Financial Certification Authority (CFCA) has been announced as the first Chinese overseer of virtual identifiers created by the Global Legal Entity Identifier Foundation (GLEIF).
The CFCA has become a Qualified vLEI Issuer (QVI) in the Global LEI System. VLEIs are used to verify the digital identities of companies and assets in financial transactions.
The CFCA will use vLEIs to help organisations use LEIs in conjunction with Chinese identity tools. It will also investigate other ways that vLEIs can verify identities in other use cases, such as real-time account registration verification, tamper-resistant digital signing, verifiable SME credit records and ESG-based credentialing, the GLEIF said.
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