Cardano Foundation spins out Veridian, tokenizes its shares on new standard
The Cardano Foundation has spun out a new Swiss-based company called Veridian, which is the first to tokenize its equity using the new CIP-0113 standard. Veridian focuses on digital identity solutions for governments and AI agents, utilizing blockchain-based credentials.
Why it matters
This development represents a significant step in bridging traditional equity markets with blockchain technology, enabling programmable assets that comply with regulatory requirements.
Veridian, based in Switzerland, will build tools for governments, businesses and AI agents to prove their identity and specify their online activities. The company is led by Thomas A. Mayfield, a blockchain engineer who previously led decentralized trust and identity solutions at the Cardano Foundation. Veridian plans to seek strategic investors in 2027, the foundation said Thursday.
“Veridian is the first to tokenize its own shares on the new CIP-0113 that we announced yesterday,” Frederik Gregaard, the Cardano Foundation’s CEO and Veridian’s chair, told CoinDesk in an email statement.
The company has 1 million shares in total, he said, most of which have been tokenized. “People have talked about tokenized equity for years, and now there’s an operating company on Cardano doing it.”
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