PANews, October 8 – According to CoinDesk, the Cardano Foundation announced it is spinning off its digital identity project Veridian into an independent Swiss company, and using Cardano's newly launched programmable token standard CIP-0113 to tokenize the majority of its 1 million shares on-chain. Veridian becomes the first company to adopt the standard for equity tokenization, but the tokenized shares are not being offered to the public. Frederik Gregaard, CEO of the Foundation and also chairman of Veridian, said the company plans to seek strategic investors in 2027. Veridian is led by blockchain engineer Thomas A. Mayfield and develops digital credentials based on the open KERI and ACDC standards, helping individuals, enterprises, and AI agents verify identity and permissions without a central database. Its mobile wallet is already available on iOS and Android, and has been integrated with Utah's digital identity regulations.