Cardano The foundation will Veridian spin off the project into an independent Swiss company and tokenize most of its shares
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AT A GLANCE
Cardano The foundation announced it would Veridian spin off the project and tokenize most of its shares on-chain.
Article
Cardano The foundation spins off its digital identity project Veridian, and tokenizes its equity on-chain
PANews October 8 reported, citing CoinDesk, that the Cardano foundation announced it would spin off its digital identity project Veridian into an independent Swiss company and use the Cardano network's newly launched programmable token standard CIP-0113, tokenizing 1000000 most of its shares on-chain.Veridian It became the first company to adopt this standard for equity tokenization, but the tokenized shares were not offered to the public. The foundation's CEO, who also serves as Veridian chairman, Frederik Gregaard, said the company plans to seek strategic investors in 2027.Veridian Led by blockchain engineer Thomas A. Mayfield, it develops digital credentials based on KERI and ACDC open standards, helping individuals, businesses, and AI agents without a central database...
Key points
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Cardano The foundation announced it would spin off its digital identity project Veridian into an independent Swiss company.
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Veridian Using the Cardano network's newly launched programmable token standard CIP-0113, it will tokenize 1000000 most of its shares on-chain.
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Veridian It became the first company to adopt CIP-0113 for equity tokenization.
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The tokenized shares were not offered to the public.
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Frederik Gregaard serves as Cardano the foundation's CEO and Veridian chairman.
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Veridian Led by blockchain engineer Thomas A. Mayfield.
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Veridian It develops digital credentials based on KERI and ACDC open standards.
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The company plans to seek strategic investors in 2027.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This means Veridian it will become an independent company, with some shares represented by on-chain tokens, but these shares are not currently offered to the public.
Why it matters to readers
Veridian It became the first company to adopt CIP-0113 for equity tokenization, providing a public case study for the standard.
You can understand equity tokenization as using tokens on a blockchain to record and represent ownership interests in company shares.
Risks and unknowns
The evidence text is truncated and does not provide a complete explanation of digital credential functionality.
Evidence comes from PANews' retelling of CoinDesk's report; no direct announcement link was provided by the foundation or CoinDesk.Cardano Evidence comes from PANews' retelling of CoinDesk's report; no direct announcement link was provided by the foundation or CoinDesk.
2027 Seeking strategic investors this year is a plan; it has not yet been stated whether it will be realized.
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Related concepts
equity tokenization
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