Cardano Foundation spins out Veridian as Swiss company and tokenizes most of its shares

The Cardano Foundation has spun out its digital identity project, Veridian, into an independent company based in Switzerland, according to BlockBeats. The foundation also tokenized most of Veridian’s 1 million shares on the Cardano blockchain, tying the corporate restructuring directly to on-chain issuance. Veridian is described as the first company to use Cardano’s CIP-0113 standard. Under that framework, token issuers can impose transfer restrictions and freeze or seize assets when required for compliance purposes. The move places Veridian at the intersection of digital identity infrastructure and regulated tokenized equity design on Cardano. The company’s mobile wallet is already live. Veridian is also developing related credentials intended to help individuals, businesses, and AI agents verify identity and permissions without relying on centralized databases. The update points to a broader product buildout around decentralized identity tools, with the wallet and credential layer forming the core of the offering.