LEI in Asia – A New Era of Trust
Asia has emerged over the past decade as a global financial powerhouse, where technological innovation and regulatory discipline have created an ideal environment for transparency. At the center of this transformation stands the Legal Entity Identifier (LEI). It is a unique 20-character code that gives every legal entity an internationally verifiable identity.
For readers who are new to the concept, our article What is an LEI explains how the system works and why it was created after the 2008 financial crisis. You can also learn who needs an LEI number and how it improves transparency for businesses operating internationally.
The Global Legal Entity Identifier Foundation (GLEIF) has emphasized in its recent reports that the Asia-Pacific region is critical to the future of the LEI system. In this part of the world—where economic growth is fastest and capital flows are increasingly open. There is a strong need for a mechanism that allows all participants—banks, investors, fintechs, and regulators—to speak the same language. The language of data and identity.
India, Singapore, Hong Kong, Japan, and South Korea are leading the way in Asia, showing how LEIs can help build trust and transparency. Each country has taken a different approach, yet the results are similar: markets are becoming safer, and international cooperation smoother.
LEI System has been part of this evolution, helping businesses manage their legal identity and ensure that their data meets GLEIF’s global standards. If you are interested in learning more about registration and pricing, see our detailed guide on LEI number price and renewal.
For additional background on the regulatory framework in Europe. You can also read LEI Code in the European Union: Why It’s Mandatory and How It Works.
If you are interested in how the system operates outside Europe. Our article LEI Code in the USA: What You Need to Know explains the requirements and practical benefits for American companies.
At the end of this article, you can find a link to our LEI FAQ section, where we answer the most common questions about registration, transfer, and renewal.
India – Regulation as the Foundation of Trust
In India, the LEI has become an integral part of the financial landscape. The Reserve Bank of India (RBI) mandated in 2021 that all non-individual borrowers with aggregate exposures to banks and financial institutions above ₹5 crore (approximately €555,000) must obtain a valid LEI.
This directive was introduced through the official circular RBI/2020-21/82 – LEI for Borrowers issued on April 29, 2021 bringing the LEI into the core of regulatory compliance and introducing it to the lending market, where transparency plays a key role in mitigating systemic risk.
Securities and Exchange Board of India (SEBI) also extended LEI requirements to the securities sector under its circular SEBI/HO/MRD2/DCAP/CIR/P/2018/61 – Introduction of Legal Entity Identifier for OTC Derivatives, ensuring that all market participants are identifiable and traceable in trade reporting.
Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has required insurers and corporate borrowers to obtain LEIs under its IRDAI/SDD/CIR/MISC/020/01/2023 – Implementation of Legal Entity Identifier for Insurers and Borrowers circular to strengthen financial transparency in the insurance and reinsurance sectors.
India is one of the few countries where the LEI is not merely a financial tool but part of national data policy. When a company applies for a loan, issues bonds, or participates in stock exchange transactions, the LEI is as fundamental as a registration certificate. It makes market participants visible and gives banks confidence that they know exactly who they are dealing with.
LEI System supports Indian entities internationally by providing English-language assistance for LEI registration, renewal, and data validation. Services are based on GLEIF and RapidLEI standards, ensuring that every entity’s data remains current and globally verified. Many Indian companies with international operations use the LEI System India platform to manage LEIs for their entire corporate group, simplifying processes, reducing administrative work, and ensuring full lifecycle control.
Singapore and Hong Kong – Innovation Meets Transparency
While India represents regulatory strength, Singapore and Hong Kong show how the LEI can act as a driver of innovation. The Monetary Authority of Singapore (MAS) has developed frameworks where LEIs are used in financial reporting, stock market transactions, and fintech integrations. In Singapore, the LEI is not mandatory but has become a mark of quality increasingly requested by banks and investors.
Hong Kong has gone a step further, making the LEI mandatory for over-the-counter derivatives transactions. The Hong Kong Monetary Authority (HKMA) requires all financial institutions to include LEIs in their reporting to ensure transparency of risk exposures. As a result, Hong Kong has become one of the most open and traceable financial markets in the world—where every transaction has an identifiable counterparty.
Both Singapore and Hong Kong are emerging as the digital trust hubs of the region. GLEIF highlighted them in its article Expanding the Global LEI System: Why Asia-Pacific is Key to a Trusted Digital Future, describing how these cities combine financial innovation with global standards.
LEI System operates in both Singapore and Hong Kong, offering support and guidance to local companies. Its platform connects Asian businesses with international regulatory frameworks and partners, supporting every step of the LEI lifecycle—from registration to renewal.
More information: LEI System Singapore
Japan and South Korea – Stability and Global Leadership
When it comes to mature and stable markets, Japan and South Korea are prime examples of how quality and consistency create trust. The Financial Services Agency (FSA) and the Japan Securities Dealers Association (JSDA) launched the LEI system back in 2012—long before most other countries.
Today, Japan is among the top nations globally in terms of LEI data quality, with GLEIF reporting that more than 99.5% of active LEIs are up to date and verified.
In South Korea, the Korea Financial Investment Association (KOFIA) serves as a GLEIF-accredited entity overseeing LEI issuance and maintenance. Since the financial reporting reform of 2015, the LEI has become a standard for most investment firms, fund managers, and brokers. The Korean government actively supports its expansion, viewing it as a key element of the national financial technology trust framework.
LEI System currently serves Japanese and South Korean companies via its international platform leisystem.com, and will launch dedicated local websites in both languages during 2025. This will allow businesses to access LEI services in their own language and time zone while remaining connected to the global GLEIF database.
Japan and South Korea are also pilot regions for GLEIF’s new verifiable LEI (vLEI) standard. This technology adds a cryptographic layer of verification, enabling LEIs to be used for digital signatures and automated API-based validation. Once vLEI becomes mainstream, companies will be able to use their trusted digital identity automatically across digital contracts, bank transactions, and partnership systems.
The Future – LEI as a Digital Identity for Asia
The LEI is evolving into a true digital identity that Asian businesses use every day. Partners, investors, and banks all want to know who stands on the other side of a transaction, and the LEI provides a fast, reliable answer.
GLEIF has put it clearly: “In the future, no entity will be truly global without being verifiable.” Asia is showing that this future has already arrived.
LEI System is part of this development. Our international service supports businesses across all major Asian financial centers, connecting them with GLEIF and RapidLEI systems. Our goal is not just to register codes but to help companies understand how the LEI can be part of their digital identity and a competitive advantage.
We maintain local pages and support in India and Singapore, ensuring fast and transparent service at the local level. In Japan and South Korea, clients are currently served via our international site, but by the end of 2025, local pages will also be available—so we can be where our clients are.
The mission of LEI System is to build a unified, transparent, and trusted ecosystem where every business—regardless of location—can prove its identity through one global standard. There are nearly 3 million active LEIs worldwide. Asia already accounts for about one-tenth of the total, and its share is growing rapidly.
India’s regulatory strength, Singapore and Hong Kong’s innovation, and Japan and South Korea’s stability together define a new era of trust standards. The LEI stands at the heart of this transformation. LEI System helps drive this change forward. We act not only as a service provider but as a partner that enables businesses to speak a common global language — the language of trust.
For more details about LEI requirements, renewals, and global regulations, visit our LEI FAQ section.