Innovation Ecosystem

The Global Legal Entity Identifier Foundation (GLEIF) is responsible for ensuring the operational integrity of the Global LEI System, which provides unique identification for legal entities participating in trustworthy transactions. One of their notable services is the verifiable Legal Entity Identifier (vLEI). The vLEI is a digital identity for organizations, enhancing the traditional LEI with verifiable credentials, making it suitable for various digital applications. GLEIF believes that each business worldwide should have only one global identity.
Created by the Financial Stability Board (FSB) in 2014, GLEIF is a supra-national, not-for-profit organization tasked to manage the only open, non-proprietary legal entity identification system designed as a public good.

The LEI initiative is driven by the Group of 20 (G20) and the FSB.

The primary goal of the partnership between Accelerate and GLEIF is to leverage the strengths and capabilities of both organizations to enhance the adoption and utility of the Legal Entity Identifier (LEI) and its digital counterpart, the verifiable LEI (vLEI). This collaboration aims to streamline business operations, improve transparency in financial transactions, and foster innovation in data verification. As part of this partnership, Accelerate becomes a member of GLEIF's technical advisory council, reinforcing their role in shaping future LEI and vLEI technical standards and protocols.