Cardano Foundation spins out Veridian, tokenizes its shares on new standard
Veridian became the first company to use Cardano’s new programmable-token standard for its equity, though the tokenized shares are not being offered to the public.
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Summary
- The Cardano Foundation spun out its digital-identity project, Veridian, as an independent Swiss company and tokenized most of its 1 million shares on the Cardano blockchain.
- Veridian is the first company to use Cardano’s CIP-0113 standard, which allows token issuers to impose transfer restrictions and freeze or seize assets to meet regulatory requirements.
- Veridian, whose mobile wallet is live, develops credentials that help people, businesses and AI agents verify their identities and authority without relying on a central database.
