Finema, a Thailand-based digital identity technology company, has become the first Southeast Asian issuer of the Global Legal Entity Identifier Foundation’s verifiable Legal Entity Identifiers (vLEI).
As a Qualified vLEI Issuer, Finema will be responsible for providing the digital equivalent of GLEIF’s ISO-recognised identity recognition and validation certifier to participating companies in the region.
The vLEI is a virtual identifier that is attached to participating companies and people associated with them, enabling investors and counterpanes to establish a trust-based relationship safe in the knowledge that the organisation is who it claims to be.
Finema is the latest Asian QVI to be announced by GLEIF, following the appointment of China Financial Certification Authority (CFCA) as the first such body in China. GLEIF chief executive Alexandre Kech told Data Management Insight earlier this year that the Basel, Switzerland-based not-for-profit would focus on expanding in Asia as it seeks to bring transparency and trust to often opaque markets.
“Sweeping digitalisation across the global economy provides unprecedented opportunities and incentives to transform the underlying systems organisations use to trust and be trusted,” Kech said after the Finema announcement. “This will free international capital flows and unlock access to the unlimited opportunities of the global market.”
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