Your weekly LEI roundup with highlights from the LEI ecosystem.
In this series, we aim to bring you the latest news from the LEI ecosystem, so you can start the week one step ahead.
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RapidLEI breaks record for LEI codes issuance in Q1
Ubisecure’s RapidLEI service has been chosen by over 11,500 new organizations to issue their LEIs in the first quarter of 2021. Almost 25% more than the next competitor – GMEI Utility (DTCC / Business Entity Data BV).
Over 80k organizations now trust RapidLEI with their LEI management, driven by our incredible global partner network. Other stats for RapidLEI’s record quarter include:
- We achieved 23% growth quarter-on-quarter and 24% growth when comparing Q1 2020 to Q1 2021
- 3000 LEIs issued by other LOUs were transferred by their holders into RapidLEI
- We maintained a stable 77% renewal rate
- We also maintained our industry-leading data quality scores
- 12 consecutive months of leading both GMEI Utility & Bloomberg
Coinbase – LEI snafu resulted in narrowly averted de-listing judgment
In a very public enforcement of the “No LEI, No Trade” rule, Deutsche Boerse gave newly IPO’d Coinbase a grace period to fix its incorrect LEI or face delisting from the Xetra trading system and the Frankfurt stock exchange. In what is probably the most high profile enforcement of LEI regulation yet, the story unfolded in real-time as Coinbase realised its trading entity didn’t have its own LEI, and scrambled to fix the issue before being de-listed.
Read more about the story and its conclusion below:
- Reuters: Deutsche Boerse to de-list Coinbase from Xetra, Frankfurt trade.
- Coin Telegraph: Coinbase delisting averted as German stock exchange resumes trading.
Ubisecure: Where IAM & LEI meet – automating KYC for individuals and organisations
Steve Waite, Ubisecure and RapidLEI’s CMO, explains how Identity & Access Management and Legal Entity Identifiers can work together to optimize client onboarding and automate Know Your Customer (KYC) workflows. In this way, verified digital identities can be used during KYC checks to prove the identity of the credential holder.
For more information, you can read the full article and download the white paper on KYC & Onboarding.
GLEIF publishes Q1 2021 numbers
In its last quarterly report covering Q1 2021, GLEIF presents the key statistics and numbers which show continued growth of LEI issuance, with 63,000 LEIs issued within the quarter, which means an increase of 1000 from Q4 2020.
Get the full Global LEI System Business Report.
Bank of England supporting the adoption of the Legal Entity Identifier at UK Fintech Week
In his speech, Dave Ramsden from Bank of England advocates for the adoption of LEIs as part of their data strategy focused on embracing universal standards.
Read the full speech.
GLEIF blog: second in LEI Lightbulb Blog Series
This new ‘LEI Lightbulb Blog Series’ spotlights China’s nationwide adoption of the LEI through a regulatory roadmap and its encouragement for LEI usage in digital identity products. It also highlights the outstanding role of Regulatory authorities within the region who are proactively driving LEI usage.
More LEI news from around the web
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- Active Cyber: Enabling Authenticity and Trust in the IoT Age Using Decentralized Systems.
- ACI Worldwide: The European Commission’s Consultations on Instant Payments in the EU: What Are the Questions And Why You Should Reply.
- Financial InterGroup: The Global LEI Initiative: An experiment of a global industry/private sector systems initiative still in beta April 2021.
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About The Author: Elena Sanz
More posts by Elena Sanz