Cardano Foundation spins out Veridian, tokenizes its shares on new standard
The 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.