On October 8, Cardano put 1 million shares in one of its subsidiaries directly on-chain š®
1ļøā£ First, what happened
On October 8, the Cardano Foundation announced that it had spun off Veridian, a digital identity project it had been working on for three years, as an independent Swiss company. The vast majority of its 1 million shares were directly tokenized, becoming on-chain securities under Switzerlandās DLT Act. While others are still shouting about RWA, theyāve gone and put equity in their own company on-chain.
2ļøā£ Whatās the key point?
This is the first real-world use case for the new standard CIP-0113 (which just went live on mainnet on October 7): tokens can have rules built ināfor example, who can receive them and whether they can be frozen or seized. Itās designed specifically for regulated securities and stablecoins. The CEO is Thomas A. Mayfield. The wallet is now available on iOS and Android, and it has also met all 142 requirements of Utahās digital identity legislation. Theyāre planning to look for strategic investors in 2027.
3ļøā£ What to watch next
My take: in this wave of US stock tokenization, Solana is chasing traffic and attention, while Cardano is holding back a major compliance play. $ADA is still likely to follow the broader market in the short term, but the āsecurities-grade token standard + state government contractsā angle is worth keeping on the watchlist.
Just my personal opinion; this is not investment advice.
Who do you think will be the biggest winner in US stock tokenization? A: Solana B: Cardano C: Not bullish on either š
#ADA #Cardano #RWA
1ļøā£ First, what happened
On October 8, the Cardano Foundation announced that it had spun off Veridian, a digital identity project it had been working on for three years, as an independent Swiss company. The vast majority of its 1 million shares were directly tokenized, becoming on-chain securities under Switzerlandās DLT Act. While others are still shouting about RWA, theyāve gone and put equity in their own company on-chain.
2ļøā£ Whatās the key point?
This is the first real-world use case for the new standard CIP-0113 (which just went live on mainnet on October 7): tokens can have rules built ināfor example, who can receive them and whether they can be frozen or seized. Itās designed specifically for regulated securities and stablecoins. The CEO is Thomas A. Mayfield. The wallet is now available on iOS and Android, and it has also met all 142 requirements of Utahās digital identity legislation. Theyāre planning to look for strategic investors in 2027.
3ļøā£ What to watch next
My take: in this wave of US stock tokenization, Solana is chasing traffic and attention, while Cardano is holding back a major compliance play. $ADA is still likely to follow the broader market in the short term, but the āsecurities-grade token standard + state government contractsā angle is worth keeping on the watchlist.
Just my personal opinion; this is not investment advice.
Who do you think will be the biggest winner in US stock tokenization? A: Solana B: Cardano C: Not bullish on either š
#ADA #Cardano #RWA