Cardano is also moving closer to traditional finance.
On October 7, Cardano officially launched a new token standard, CIP-0113, allowing token issuers to do the following directly on-chain:
Freeze tokens held by users
Seize or reclaim token assets
Restrict transfers from specific addresses
Add identity verification and anti-money laundering rules
But there’s no need to worry: these features don’t apply to $ADA itself, only to tokens that choose to adopt the standard.
The upgrade is primarily intended to attract compliant financial assets, such as stablecoins and tokenized securities, to the Cardano ecosystem.
On October 7, Cardano officially launched a new token standard, CIP-0113, allowing token issuers to do the following directly on-chain:
Freeze tokens held by users
Seize or reclaim token assets
Restrict transfers from specific addresses
Add identity verification and anti-money laundering rules
But there’s no need to worry: these features don’t apply to $ADA itself, only to tokens that choose to adopt the standard.
The upgrade is primarily intended to attract compliant financial assets, such as stablecoins and tokenized securities, to the Cardano ecosystem.