Cardano Foundation spins out digital identity firm Veridian
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Cardano Foundation has spun out Veridian as an independent Swiss digital-identity company after three years of development, and most of its 1 million shares were tokenized on Cardano. Veridian is described as the first company to use Cardano’s new CIP-0113 programmable-token standard for equity, and it is not offering the tokenized shares to the public. The company plans to seek strategic partners and investors in 2027, while Foundation executives remain on the board.
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What it means
Users, partners, and the Cardano ecosystem see Veridian operating as a separate company rather than a Foundation project today, and the equity has been placed on-chain in tokenized form. That means the company’s identity work and its ownership structure now sit in a public blockchain setting instead of staying only inside the Foundation’s development program.
In practice, the move changes who can point to Veridian as an independent firm and who can track its equity structure, while the tokenized shares are still not being sold to the public. The shift does not remove the Foundation from the picture, because its executives still hold board roles at Veridian.
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