Cardano Foundation Spins Off Digital Identity Project Veridian, Completes Equity Tokenization

On October 8, according to CoinDesk, the Cardano Foundation has spun off its digital identity project Veridian into an independent Swiss company. Based on Cardano's newly launched programmable token standard CIP-0113, it has tokenized 1 million shares of equity, becoming the first equity application of this standard. The related tokenized shares are not currently available for public sale.

CIP-0113 allows issuers to set transfer and compliance rules, applicable to regulated assets such as stablecoins and security tokens. Veridian is committed to providing decentralized identity verification tools for enterprises, governments, and AI Agents, and plans to seek strategic investment by 2027.