#Cardano
Cardano Foundation spins out digital identity firm Veridian
The Cardano Foundation has spun out Veridian as an independent digital identity company after three years of development, with its shares tokenized on Cardano and plans to seek investors in 2027.
The Cardano Foundation, in an announcement dated Oct. 8, said Veridian will operate as an independent commercial business led by Thomas A. Mayfield. According to the release, the company will provide tools for governments, organizations and individuals to verify the identity and authority of participants in digital interactions without relying on a central identity database.
Alongside the corporate separation, the Foundation said Veridian’s shares have been issued as ledger-based securities under Switzerland’s DLT Act. The release describes them as the first asset deployed on Cardano using the new CIP-0113 programmable token standard, developed by the Foundation and the Cardano community.
Cardano tokenizes Veridian’s shares under its new standard
The share issuance uses a framework that the Foundation announced was live on Cardano’s mainnet on Oct. 7. As crypto.news previously reported, the programmable token rollout allows issuers to attach identity checks, transfer restrictions, and other selected controls to assets created under the standard.
According to the CIP-0113 specification, programmable tokens require a successful script check before ownership can change. The specification lists regulated stablecoins and tokenized securities among its intended uses, with support for approved-address lists and know-your-customer requirements.
The Foundation said the framework uses existing Cardano capabilities and required no hard fork. Under the specification, individual issuers choose the rules for their programmable assets; the framework does not automatically apply those controls to ADA or ordinary native tokens.
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Cardano Foundation spins out digital identity firm Veridian
The Cardano Foundation has spun out Veridian as an independent digital identity company after three years of development, with its shares tokenized on Cardano and plans to seek investors in 2027.
The Cardano Foundation, in an announcement dated Oct. 8, said Veridian will operate as an independent commercial business led by Thomas A. Mayfield. According to the release, the company will provide tools for governments, organizations and individuals to verify the identity and authority of participants in digital interactions without relying on a central identity database.
Alongside the corporate separation, the Foundation said Veridian’s shares have been issued as ledger-based securities under Switzerland’s DLT Act. The release describes them as the first asset deployed on Cardano using the new CIP-0113 programmable token standard, developed by the Foundation and the Cardano community.
Cardano tokenizes Veridian’s shares under its new standard
The share issuance uses a framework that the Foundation announced was live on Cardano’s mainnet on Oct. 7. As crypto.news previously reported, the programmable token rollout allows issuers to attach identity checks, transfer restrictions, and other selected controls to assets created under the standard.
According to the CIP-0113 specification, programmable tokens require a successful script check before ownership can change. The specification lists regulated stablecoins and tokenized securities among its intended uses, with support for approved-address lists and know-your-customer requirements.
The Foundation said the framework uses existing Cardano capabilities and required no hard fork. Under the specification, individual issuers choose the rules for their programmable assets; the framework does not automatically apply those controls to ADA or ordinary native tokens.
#Write2Earn #ADA $ADA