Cardano Foundation splits Veridian into an independent company and implements equity tokenization

The Cardano Foundation will spin off the digital identity project Veridian into an independent company and tokenize its shares based on the CIP-0113 standard. Veridian has become the first company to adopt this standard for equity tokenization, and has currently issued 1 million shares, most of which have been tokenized and are not currently available for sale to the public. Veridian, headquartered in Switzerland and led by Thomas A. Mayfield, aims to provide digital identity verification tools for governments, businesses, and AI agents, with plans to seek strategic investors in 2027.