Singapore-based digital trade platform TradeGo Pte Ltd has become a Qualified vLEI Issuer (QVI) under the Global Legal Entity Identifier Foundation (GLEIF) framework, allowing it to create and manage verifiable Legal Entity Identifier (vLEI) credentials for third parties.
Enhancing Blockchain Trade with Verified Digital Identity
TradeGo’s new QVI status positions it as the first commodity-focused digital trade platform authorized to issue vLEIs, joining other Asia-Pacific issuers like Finema in Bangkok and Certizen Technology in Hong Kong. As a QVI, TradeGo can issue, update, suspend, or revoke vLEIs not only for legal entities but also for the official representatives of those organizations.
vLEIs are cryptographically secure, W3C-compliant digital credentials that help confirm organizational identity in digital transactions. TradeGo plans to integrate vLEIs into its blockchain solutions for electronic bills of lading, smart contracts, and digital payments. The company reports that its blockchain network, connecting trade corridors between China, ASEAN, and Europe, has achieved significant efficiencies in pilot programs, claiming reductions of up to 90 percent in digital payment compliance costs and 80 percent in manual processing requirements. However, these figures remain vendor-reported and have not been independently verified.
In technical documents, TradeGo describes its QVI status as providing “a unified trust layer for digital trade,” enabling seamless, verifiable identity management across trading operations by combining vLEIs with its blockchain architecture.
Regulatory Momentum and Next Steps
The development lines up with broader regulatory developments supporting digital trade. In Singapore, the Electronic Transactions (Amendment) Act 2021 implements legal frameworks for electronic trade documents, while the UK’s Electronic Trade Documents Act 2023 and the EU–Singapore Digital Trade Agreement signed on 25 May 2025 further promote cross-border data flows and the use of digital trade documentation. These changes create fertile ground for the adoption of secure digital identities like vLEIs in global trade processes.
TradeGo, established in 2021 as a consortium backed by Mitsui and several trading houses, is already active in partnerships with SGTraDex and MineHub to digitize bulk-commodity supply chains such as iron ore and bunker fuel. The company’s Global Inter-entity Financial & Trading Society (GIFTS) initiative offers standardized APIs to more than 400 platform members, according to TradeGo’s own disclosures. The firm plans to begin issuing vLEIs in the coming months, starting with participants in China–EU iron ore trade corridors.
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By the ID Tech Editorial Team
