Cardano Foundation spins out Veridian as independent digital identity company
In brief
- Cardano Foundation announced Veridian's spin-out at TOKEN2049 in Singapore on October 8, 2026.
- Veridian's shares were the first asset issued under CIP-0113, per the announcement.
- Veridian's shares are ledger-based securities under Switzerland's DLT regulations.
- Thomas A. Mayfield is CEO; foundation CEO Frederik Gregaard chairs the board.
- Veridian uses the KERI and ACDC standards to verify and revoke credentials in real time.
Shares issued on Cardano's new token standard
The foundation and Veridian say Veridian's shares were the first asset issued under CIP-0113, Cardano's programmable token standard. CIP-0113 went live on Cardano mainnet on October 7, a day before the TOKEN2049 announcement. So Veridian's own equity is the standard's first deployment, according to the companies.
The shares weren't issued as a loose onchain token, either. They were formally issued on the Cardano blockchain as ledger-based securities under Switzerland's DLT regulations, per the report.
Who's running it
Thomas A. Mayfield takes the CEO role. He previously served as the Cardano Foundation's head of decentralized trust and identity, according to the foundation's announcement as reported by Crypto Briefing. Frederik Gregaard, the foundation's CEO, chairs Veridian's board, and Nicolas Jacquemart (identified as chief legal officer) also sits on it.
Three years inside the foundation, and now it's a separate company with the foundation's CEO in the chair.
What Veridian builds
Veridian is built on two open standards, KERI and ACDC. Together they allow credentials to be verified and revoked in real time without relying on centralized databases, which is the core of what the company is pitching to individuals, organizations and AI agents. The Veridian Wallet is live on both iOS and Android.
The company says it's aligned its operations with all 142 requirements laid out in Utah's State-Endorsed Digital Identity guide. That's Veridian's own claim, made alongside the spin-out.
Next up is 2027. Veridian has laid out a roadmap for that year, and it plans to pursue strategic partnerships and investments across four fronts, according to the report.
Frequently asked questions
What is CIP-0113 on Cardano?
CIP-0113 is a programmable token standard that launched on Cardano mainnet on October 7, 2026. According to the Cardano Foundation and Veridian, Veridian's shares were the first asset issued under it.
How does Veridian verify digital credentials?
Veridian is built on two open standards, KERI and ACDC. They allow credentials to be verified and revoked in real time without centralized databases. The Veridian Wallet is live on iOS and Android.
Who leads Veridian after the spin-out?
Thomas A. Mayfield is CEO. He was previously the Cardano Foundation's head of decentralized trust and identity. Foundation CEO Frederik Gregaard chairs the board, and Nicolas Jacquemart, identified as chief legal officer, also sits on it.
