Chainlink (LINK) and the Global Legal Entity Identifier Foundation (GLEIF) have announced a strategic partnership to develop an institutional-grade identity solution for the blockchain industry. The initiative combines GLEIF's verifiable Legal Entity Identifier (vLEI) with Chainlink's Cross-Chain Identity (CCID) infrastructure and Automated Compliance Engine (ACE) to provide automated, verifiable, and privacy-preserving identity verification for digital assets and smart contracts.
This solution embeds verifiable identity information directly into on-chain assets, enabling asset issuers, stablecoin providers, and financial institutions to meet global regulatory standards such as Europe's MiCA, the U.S. FDTA, and FATF requirements. It allows for automated verification of counterparties, enforcement of compliance policies, and restoration of control over compromised contracts through role-based recovery mechanisms.
Sergey Nazarov, Co-Founder of Chainlink, emphasized, "I think their [GLEIF's] widely used identity standard will also become widely used in the onchain finance world." Alexandre Kech, CEO of GLEIF, added, "Leveraging the LEI and vLEI, this turns duplicative and manual compliance checks into automated, on-chain workflows. The result is greater efficiency, reliability, and scalability for digital assets compliance."
The partnership follows Chainlink's recent integration of its Chainlink Runtime Environment (CRE) with SWIFT, and the LINK price has risen 4% in the past 24 hours, trading at $22.13 as it attempts to reclaim a broken ascending trendline.
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