Cardano Foundation spins out Veridian, tokenizes its shares on new standard
RWA Signal Insight
InfrastructureThe Cardano Foundation has spun out its digital-identity project, Veridian, as an independent Swiss-based company. As part of this transition, Veridian has tokenized its 1 million shares directly on the Cardano blockchain. This marks the first real-world application of Cardano’s newly introduced CIP-0113 programmable-token standard. This standard allows issuers to embed regulatory compliance rules, such as transfer restrictions and identity verification, directly into the token logic. By tokenizing its equity, Veridian provides a live proof-of-concept for how regulated securities can operate on-chain while maintaining necessary legal controls. The company aims to leverage this infrastructure to provide identity solutions for governments, businesses, and AI agents, with plans to seek strategic investors in 2027. This development is significant for the RWA market as it demonstrates the practical implementation of programmable standards for corporate governance and equity management.
Key points
- Veridian tokenized 1 million shares on Cardano using the new CIP-0113 programmable standard.
- CIP-0113 enables embedded compliance features like transfer restrictions and mandatory identity checks.
- Veridian provides digital identity tools for governments, businesses, and AI agents.
- The company plans to seek strategic investment in 2027 following its spin-out.
Background
The Cardano Foundation is a non-profit organization based in Switzerland that oversees the development and adoption of the Cardano blockchain. Cardano is a proof-of-stake blockchain platform designed to support decentralized applications and secure, scalable financial infrastructure. CIP-0113 is a technical framework recently introduced to allow for the creation of programmable tokens that can enforce regulatory requirements at the protocol level.