The Cardano Foundation said it is spinning out digital identity company Veridian as an independent entity, with the company’s shares set to be tokenized on the Cardano blockchain. According to Techub, citing Crypto.news, Veridian has been in development for three years. The foundation said the company plans to seek investors in 2027. The update centers on the corporate restructuring and the use of Cardano’s blockchain for share tokenization, while the timeline disclosed in the report points to a future fundraising effort rather than an immediate investment round. No additional financial terms or valuation details were provided in the source material.
The Cardano Foundation is spinning out digital identity company Veridian as an independent entity, and its shares will be tokenized on the Cardano blockchain, according to Techub, which cited Crypto.news.
Veridian has been under development for three years and plans to seek investors in 2027.
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