Cardano Foundation spins out Veridian and tokenises shares

• The Cardano Foundation has spun out Veridian as an independent digital identity company.
• Veridian has tokenised its shares on Cardano using the CIP-0113 programmable token standard.
• The move demonstrates how blockchain-based tokens can represent company shares with embedded compliance rules.

The Cardano Foundation has spun out Veridian as an independent digital identity company, with its shares tokenised on Cardano (ADA).

Veridian builds tools that let people, organisations and AI agents prove their identities and permissions without relying on central databases.

“The internet shipped without a way to prove who is on the other side,” Veridian Chief Executive Officer Thomas A. Mayfield said in a statement.

The spin-out gives Veridian greater independence as it targets government and enterprise customers across several markets.

Veridian’s shares use CIP-0113, Cardano’s programmable token standard, which embeds compliance rules directly into native tokens.

The shares are structured as ledger-based securities under Switzerland’s Distributed Ledger Technology Act, making this the first such asset deployed on Cardano.

Veridian plans to seek strategic partners and investors in 2027 while expanding its US government, European enterprise and Asia-Pacific issuer businesses.

Following the update, ADA was trading down 9.1% at $0.2324.