Use Cases
Discover real-world examples of digital wallets and verifiable credentials in action — passwordless login, age verification, digital travel, cross-border and public services, and more. Learn from proven patterns, compare approaches, and reuse what works instead of starting from scratch.
Enabling Digital Trust for Cross-Border Factoring of Used Cars and Auto Parts
by Global Legal Entity Identifier Foundation
TOPPAN and SBI XDC Network APAC are collaborating on a factoring solution for cross-border export transactions, verifiable corporate identity with blockchain-based financing. TOPPAN is Japan’s first qualified vLEI issuer. The vLEI is a digital credential based on the Legal Entity Identifier (LEI) system and enables trusted digital verification of a legal entity and its authorized representatives. The Global Legal Entity Identifier Foundation (GLEIF), a not-for-profit organization that oversees the global LEI system, provides the framework for standardized legal-entity identification and verification. SBI XDC Network APAC, a joint venture between SBI Holdings and TradeFinex Tech, supports the growth of the XDC Network ecosystem across the Asia-Pacific region. The initiative addresses a fundamental challenge in cross-border trade: how to establish trust in counterparties and transaction data while providing SMEs with faster access to working capital. By digitizing corporate verification, KYB/KYC, receivables verification, and financing processes, the solution demonstrates how digital trust infrastructure can reduce friction in international trade and financial transactions.
- Sector
- Trade
- Country
- Japan
- Production deployment
- No
- Last updated
How it works
In this PoC, TOPPAN’s corporate digital certificate, the vLEI, was integrated with a digital trade application developed by SBI XDC Network APAC. Using historical transaction data from SS Trading Co., Ltd., an SBI Group company engaged in used automobile and auto parts exports, the PoC demonstrated vLEI-based corporate identity verification and the recording and verification of receivables information through the digital trade application.
The PoC confirmed that vLEI can automate online corporate identity verification for counterparties such as overseas buyers, including verification of the legal entity and its authorized representatives. It also confirmed that the authenticity and integrity of recorded receivables information can be verified through cryptographic validation of the associated vLEI.
The initiative is ongoing, with the aim of extending these capabilities to credit screening and financing and ultimately enabling the entire factoring process—from corporate identity and receivables verification through credit screening and financing—to be conducted digitally and online.
Tags
- identity
- payment
- stable coin
VC formats
- ACDC
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The FIDES Use Case Catalog aims to provide a clear and up-to-date overview of how verifiable credentials and digital wallets are used in the real world. While FIDES Labs BV does not assume responsibility or liability for the completeness, accuracy, or timeliness of the information presented, we have made a best effort to compile a representative overview. The data is aggregated from publicly available sources and from information published by the organisations themselves.
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