The Global Legal Entity Identifier Foundation (GLEIF) today announces the Shanghai Electronic Certification Authority Co. Ltd. (SHECA) as the latest Qualified vLEI Issuer (QVI) within the verifiable Legal Entity Identifier (vLEI) ecosystem.
Pioneered by GLEIF as the secure digital counterpart of the Legal Entity Identifier (LEI), the vLEI is a globally standardized form of digital organizational identity. By equipping organizations and their representatives with cryptographically verifiable identities, vLEI credentials offer a comprehensive solution that tackles the challenges arising from digitalization by establishing a global digital trust ecosystem.
SHECA, established in 1998, is one of China’s pioneering Certification Authorities accredited by the Ministry of Industry and Information Technology (MIIT), providing digital identity certificates and trust services widely used for secure authentication, serving over 7 million legal entities. In 2022, SHECA became a member of Shanghai Data Group. It has built a cross-border digital identity platform that integrates LEI records with authoritative legal entity data sources to provide enterprise query services and LEI-embedded digital certificates. As a QVI, SHECA will now expand proven capabilities to offer authoritative vLEI issuance, validation, and verification services.
This will help Chinese companies address regulatory requirements across various cross-border trade scenarios by verifying the identity of counterparties and their authorized representatives. It also enables both domestic and international organizations to use the vLEI to support the digitalization of trade by promoting increased security, trust, and transparency across key applications, such as e-invoices and e-bills of lading (eBL). Other digital transactions and exchanges will be supported to promote more efficient business operations – including contracts, labor agreements, certificates, and reports.
Alexandre Kech, CEO of GLEIF, said: "Increasing momentum for the vLEI reflects the fact that truly global commerce demands interoperable digital organizational identity solutions capable of delivering immediate and automated trust across borders. SHECA's approval as a QVI marks a significant expansion of the vLEI ecosystem in China, which stands to increase the adoption and application of the vLEI across the region to foster simpler, smoother, and safer trade."
Jiuqiang Cui, General Manager of SHECA, said: "As a QVI, we look forward to continued collaboration with GLEIF to support the development of next-generation digital identity solutions that will address longstanding trust issues in cross-border identity verification – streamlining compliance, reducing risks and costs, and stimulating global trade."
To promote engagement among key industry players, GLEIF recently launched the Partners Program. In addition, GLEIF has launched the inaugural vLEI Hackathon to drive innovation in digital organizational identity.
For more information on the vLEI, please visit the GLEIF website here.
