Cardano Foundation Spins Off Digital Identity Project Veridian as Independent Company

Odaily News: The Cardano Foundation has announced the spin-off of its digital identity project Veridian into an independent company, with its shares tokenized based on CIP-0113, a newly launched programmable token standard on the Cardano blockchain.

It is reported that Veridian becomes the first company to adopt Cardano's programmable token standard for equity tokenization. Frederik Gregaard, CEO of the Cardano Foundation and Chairman of Veridian, stated that the company has issued a total of 1 million shares, with the majority already tokenized. However, these tokenized shares are not currently available for public sale.

Headquartered in Switzerland, Veridian aims to provide digital identity verification tools for governments, enterprises, and AI agents, helping users prove their identity and verify online behavior. The company is led by Thomas A. Mayfield, a blockchain engineer who previously oversaw decentralized trust and identity solutions at the Cardano Foundation, and plans to seek strategic investors in 2027. (CoinDesk)