Cardano Foundation spins out Veridian, tokenizes its shares on new standard
CoinDesk 2026-10-08 14:24:24
Context: The Cardano Foundation has spun out its digital-identity project, Veridian, as an independent Swiss company, and tokenized 1 million of its shares on the Cardano blockchain using the network's new programmable-token standard, CIP-0113. Veridian aims to develop tools for governments, businesses, and AI agents to verify their identities and specify their online activities. The company's mobile wallet is live, and it plans to seek strategic investors in 2027.
Key Facts
- The Cardano Foundation tokenized 1 million of its own shares on Veridian, which is the first company to use Cardano's CIP-0113 standard.
- Veridian's shares give the CIP-0113 standard an equity use case, demonstrating the standard's ability to impose transfer restrictions and freeze or seize assets to meet regulatory requirements.
- Veridian's mobile wallet is live on iOS and Android, and the company has mapped Utah's digital-identity requirements, specifically the state's State Endorsed Digital Identity Program.
- Veridian is led by Thomas A. Mayfield, a blockchain engineer who previously led decentralized trust and identity solutions at the Cardano Foundation, with Frederik Gregaard, the Cardano Foundation's CEO, serving as Veridian's chair.