The Global Legal Entity Identifier Foundation (GLEIF) has expanded its operations to India, opening an office in Mumbai where it intends to gain a deeper understanding of local markets.
The non-profit organisation, which provides universal identification codes for companies and assets to make it easier to verify and map data to them, said India has been among the top-five legal entity identifier (LEI) growth areas in the past four years.
“The LEI has become a key tool in enabling trust and transparency across the Indian financial ecosystem, thanks to a proactive regulatory agenda advanced by the Reserve Bank of India,” GLEIF said. “Significant levels of new LEI issuance in the region annually, as well as high levels of LEI renewals, can be attributed directly to this extensive regulation and the need for organisations to comply.”
Meanwhile, the International Standards Organisation (ISO) has expanded the LEI technical standard to include GELIF’s digitally signed, tamper-resistant verifiable credentials, know and vLEIs.
“This is a pivotal moment in the evolution of digital organisational identity,” said GLEIF chief executive Alexandre Kech. “The inclusion of the vLEI in ISO 17442 solidifies its role as the global benchmark for secure, digital verification of legal entities. As the vLEI gains traction, it promises to revolutionise how businesses authenticate and trust each other, enabling seamless interactions in a way that has never been possible before.”
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