I understand the process to onboard entities to the existing ILP networks might be a bit overly complicated given the complexity of the regulatory landscape, specifically when it comes to KYC, AML (travel rule) and other similar requirements.
I wonder if anyone at the ILP team has ever looked at Legal Entity Identifiers issues by the GLEIF foundation, and how these could help easing the onboarding process of entities onto the network.
Today, the GLEIF unveiled a new system called vLEIF (Verifiable Legal Entity Identifier), which will enable, interoperable, instant and automated identity verification between counterparties, through secure digital attestations.