Why the LEI status matters as much as the LEI itself The LEI code is used to uniquely identify legal entities in the global financial system. However, having an LEI alone does not provide the full picture. Just as important is the LEI status, which indicates whether the data linked to the LEI can be considered current and reliable. The LEI status is not designed to answer whether a specific transaction is technically possible. Its purpose is to provide a transparent signal about data quality and verification. An LEI may exist in a database, but the status determines whether it represents a well-maintained and professionally managed record. How LEI statuses form and change over time The most common LEI statuses encountered in practice are those that describe whether the entity’s reference data is up to date. These statuses apply to

LEI beyond a formal requirement The LEI code is often seen as a formal obligation. Something that must be completed so an account can be opened, a transaction processed, or a regulatory requirement fulfilled. This view is understandable, but it only reflects part of the LEI system’s purpose. An LEI is not just an identifier. It is a structured data framework. Its real value becomes visible when looking beyond basic reference information, especially at what is known as Level 2 data. If Level 1 data answers the question of who an entity is, Level 2 data answers a more strategic question. It shows who ultimately controls that entity. At this point, the LEI moves from being a technical necessity to becoming a source of practical business insight. Seen this way, the LEI becomes not just a compliance tool, but a

Investment platforms as regulated financial institutions Investment platforms, including brokers, trading platforms, and investment-focused fintech companies, provide access to financial markets and enable trading in instruments such as shares, bonds, funds, and derivatives. When these platforms serve corporate clients, they operate as regulated financial institutions rather than simple technology providers. In the European Union and many other jurisdictions, investment platforms are subject to financial supervision and licensing requirements. Their regulatory status obliges them to identify clients, monitor trading activity, and report certain transactions to supervisory authorities. This applies regardless of whether the platform operates traditionally as a broker or through a digital investment interface. Because investment platforms form part of the regulated financial system, their onboarding and compliance processes are designed to meet regulatory reporting and transparency requirements, not only internal business needs. Why legal entities require a different identification

vLEI – The Future of Digital Organizational Identity The digital economy continues to expand at remarkable speed. Companies sign contracts online, exchange documents across borders in seconds, and work with partners they have never met in person. Trust has become one of the most valuable currencies in this environment. For more than a decade, the Legal Entity Identifier (LEI) has provided a global, reliable way to identify legal entities in financial and business transactions. The next step in this evolution is the vLEI — the verifiable Legal Entity Identifier — designed for a world where digital processes dominate and identity needs to be verified instantly and automatically. vLEI is not a replacement for the LEI. Instead, it enhances the LEI with a cryptographically verifiable, machine-readable format that works seamlessly across digital platforms. It enables organizations to prove both their identity