The Cardano Foundation has spun off its digital identity project Veridian into an independent Swiss company and tokenized the majority of its 1 million shares on-chain using the newly launched CIP-0113 programmable token standard. Veridian is the first company to adopt this standard for equity tokenization, though the tokenized shares are not being offered to the public. Foundation CEO Frederik Gregaard, who also serves as Veridian chairman, stated the company plans to seek strategic investors in 2027. Veridian develops digital credentials based on open KERI and ACDC standards, enabling individuals, enterprises, and AI agents to verify identity and permissions without a central database. Led by blockchain engineer Thomas A. Mayfield, the project has already released a mobile wallet for iOS and Android that is integrated with Utah's digital identity regulations.