Cardano Foundation spins out digital identity firm Veridian
The Cardano Foundation has spun out Veridian as an independent digital identity company after three years of development, with its shares tokenized on Cardano and plans to seek investors in 2027. SummaryVeridian‘s shares have been tokenized under Switzerland’s DLT Act using Cardanos CIP-0113 programmable token standard.CEO Thomas A. Mayfield will lead the companys government, enterprise, and AI agent identity business.Veridian plans to seek strategic partners and investors in 2027 to support expansion, including in the United States.The company says it has mapped all 142 requirements in Utahs state-endorsed digital identity implementation guide. The Cardano Foundation, in an announcement dated Oct. 8, said Veridian will operate as an independent commercial business led by Thomas A. Mayfield. According to the release, the company will provide tools for governments, organizations and individuals to verify the identity and authority of participants in digital interactions without relying on a central identity database. Alongside the corporate separation, the Foundation said Veridian‘s shares have been issued as ledger-based securities under Switzerland’s DLT Act. The release describes them as the first asset deployed on Cardano using the new CIP-0113 programmable token standard, developed by the Foundation and the Cardano community. Cardano tokenizes Veridians shares under its new standard The share issuance uses a









