GLEIF and Finternet Lab sign MoU to advance digital identity standards - Trade Treasury Payments

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GLEIF and Finternet Lab sign MoU to advance digital identity standards

The Global Legal Entity Identifier Foundation (GLEIF) and Finternet Lab, an initiative of the Networks for Humanity Foundation (NHF), have signed a strategic Memorandum of Understanding (MoU) to support the development of open, interoperable digital infrastructure.

The initiative targets structural limitations in current digital frameworks, particularly around legal entity identification and the secure exchange of verified data. Under the terms of the MoU, GLEIF and Finternet Lab will collaborate on the integration of verifiable Legal Entity Identifier (vLEI) credentials with a range of decentralised tools developed by Finternet Lab, including the Universal Information Tokenisation System (UNITS) and decentralised identity (DeDi) frameworks.

The vLEI is a cryptographically verifiable credential that serves as a digital counterpart to the Legal Entity Identifier (LEI). It enables organisations and their authorised representatives to verify identity in a secure and standardised format. As part of the MoU, both parties will conduct joint research, pilot applications, and developer training activities to assess the utility of these credentials in specific use cases.

Planned areas of exploration include decentralised finance (DeFi), ESG-related reporting, and traceability in supply chains. The partners will also evaluate enabling technologies such as the Key Event Receipt Infrastructure (KERI) and assess governance frameworks for the broader deployment of digital identity infrastructure.

Ivan Mortimer-Schutts, Global Head of vLEI at GLEIF, said, “GLEIF is committed to partnering with organisations that share our mission of building a foundation of trust in the digital world. This latest collaboration represents a critical step toward realising a globally interoperable identity layer that serves both legacy and emerging digital ecosystems. By aligning our vLEI credentials with Finternet’s open-source tools, we are enabling secure, consent-based data sharing that supports innovation, regulatory integrity, and inclusive and sustainable economic growth.”

Siddharth Shetty, Co-Creator of Finternet Lab, said, “Our collaboration with GLEIF aligns closely with our vision of universal access to trusted, open digital infrastructures. Integrating vLEI credentials into our ecosystem marks an exciting step towards ensuring interoperable, secure identities across diverse digital environments. Together, we are committed to enabling greater economic participation and innovation through robust, verifiable digital frameworks.”

The MoU comes amid a growing industry focus on building foundational infrastructure that supports verifiable identity, secure data exchange, and compliance across jurisdictions.
Further information on the vLEI and its use cases is available at gleif.org.