- Cardano Foundation spun out Veridian as an independent Swiss company.
- Veridian tokenized most of its 1 million shares using Cardano’s CIP-0113 standard.
- The tokenized shares are not being offered to the public. Veridian plans to seek strategic investors in 2027.
The Cardano Foundation has spun out Veridian, its digital identity project, as an independent Swiss company and tokenized most of its 1 million shares on the Cardano blockchain. The move marks the first equity use case for Cardano’s new programmable-token standard, CIP-0113, although the shares are not being offered to the public.
Cardano’s CIP-0113 Standard Brings Tokenized Equity On-chain
Veridian is the company to tokenize its shares using Cardano Improvement Proposal 0113, says Frederik Gregaard, CEO of the Cardano Foundation and chair of Veridian.
Introduced on October 7, CIP-0113 lets issuers attach rules to tokens. These rules can control who receives an asset and can add features such as freezing, seizing, or restricting transfers when needed.
The framework is designed for assets, including stablecoins, investment funds,s and tokenized securities. Veridian’s shares show an example of how the technology can support equity ownership on a blockchain.
The company has 1 million shares in total, most of which have been tokenized. Veridian plans to seek investors in 2027, says the Cardano Foundation.
Veridian Targets Digital Identity For Businesses & AI Agents
Led by blockchain engineer Thomas A. Mayfield, Veridian will develop digital identity tools for governments, businesses, and AI agents. Mayfield previously led decentralized trust and identity solutions at the Cardano Foundation.
Veridian is now an independent digital identity company.
The Cardano Foundation invested three years in getting it here.
Led by CEO Thomas A. Mayfield, @VeridianID now takes its technology to the governments and enterprises that need it. https://t.co/apBq8gb0LL
— Cardano Foundation (@Cardano_CF) October 8, 2026
KERI and ACDC are two technical standards the company uses to provide verifiable digital credentials. These credentials enable software agents, companies, and individuals to demonstrate their identity or level of authority. They accomplish this without using a database to store all of their data. It’s a means of maintaining decentralization and security.
Veridian’s wallet is already available on iOS and Android. The company has also mapped Utah’s digital identity requirements following the introduction of the state’s State Endorsed Digital Identity Program under SB 275.
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