The Global Legal Entity Identifier Foundation (GLEIF) today confirmed TradeGo Pte. Ltd. as a Qualified vLEI Issuer (QVI), enabling the Singapore-based commodity trading platform to issue verifiable Legal Entity Identifier (vLEI) credentials. This approval embeds globally standardised, cryptographically secured organizational identities into TradeGo’s blockchain-based services for cross-border trading, shipping and payments.
vLEI Integration Drives Operational Efficiency
TradeGo’s platform now combines vLEI credentials with electronic bills of lading (eBL), e-contracts, digital payments and e-bunkering. Pilot data indicate:
- Up to 90% reduction in digital payment compliance costs
- 80% decrease in manual operations
- Over 60% improvement in trade document processing efficiency
These gains illustrate how trusted digital identities on blockchain can cut fraud risk and compliance overhead, while aligning with trade-digitalisation laws like Singapore’s Electronic Transactions Act and the UK’s Electronic Trade Documents Act.
Building a Global Digital Trade Ecosystem
Qualified vLEI Issuer status supports TradeGo’s broader GIFTS initiative (Global Inter-entity Financial and Trading Society), which aims to link identity, business and data across international marketplaces.
Alexandre Kech, CEO of GLEIF, said:
“TradeGo’s approval as a QVI is a powerful endorsement of the role the vLEI can play in addressing the long-standing identity and compliance challenges that have constrained cross-border trade … By integrating the vLEI as a globally standardized, cryptographically verifiable organizational identifier into blockchain-enabled solutions, TradeGo is overcoming these barriers and demonstrating what the future of trusted digital trade looks like.”
Yu Yingjiao, CEO of TradeGo, commented:
“This milestone reinforces TradeGo’s mission to build a seamless and trusted digital trade environment. By embedding vLEI credentials across our platform, we are creating a foundation for truly interoperable global trade, where one identity supports participation across ecosystems. We welcome partners to join us on this journey.”
Xu Jun, Vice Chair of the ICC Banking Commission Steering Committee, added:
“The ability to verify cross-border entities instantly is essential for reducing KYC costs and eliminating fraud risks in trade finance. Integrating the vLEI across TradeGo’s ecosystem offers a credible, forward-looking solution for the industry.”
GLEIF invites trade and finance stakeholders to explore how vLEI adoption with platforms like TradeGo can foster more transparent, efficient and secure global commerce. For more on the verifiable LEI, visit the GLEIF website.
