The Cardano Foundation announced at TOKEN2049 in Singapore that its digital identity platform, Veridian, is becoming an independent commercial entity. The spin-out follows three years of internal development within the foundation.
Veridian’s shares are the first assets issued using the new CIP-0113 programmable token standard, which launched on the Cardano mainnet on October 7, 2026. The shares are structured as ledger-based securities under Swiss DLT regulations.
Thomas A. Mayfield, formerly the foundation’s head of decentralized trust and identity, has been appointed as CEO. The board includes Cardano Foundation CEO Frederik Gregaard as chairman and chief legal officer Nicolas Jacquemart.
The platform utilizes KERI and ACDC open standards for real-time credential verification without centralized databases. The company also states its operations comply with 142 requirements from the Utah State-Endorsed Digital Identity guide.
Veridian targets individuals, organizations, and AI agents. The company has announced a 2027 roadmap focused on strategic partnerships and investments, noting that US consumer losses from identity fraud reached $27,3 billion in 2025.
