Cardano Foundation splits Veridian into independent companies and tokenizes majority stake

The Cardano Foundation spun off its digital identity project Veridian into an independent Swiss company. Subsequently, the agency tokenized most of Veridian's 1 million shares on the Cardano blockchain. As the first entity on the Cardano blockchain to apply the CIP-113 standard, Veridian implements restrictions on asset transfers by token issuers and asset freezing or seizure functions to meet regulatory needs. Currently, Veridian has launched its mobile wallet application and is building a relevant credential system to support individuals, enterprises and AI agents to complete identity and authority verification without relying on a centralized database.