Cardano Foundation spins out Veridian, tokenizes its shares on new standard

Those features are designed for regulated products such as stablecoins, funds and tokenized securities, whose issuers may need to enforce identity checks, sanctions controls or court orders whenever an asset changes hands. Veridian’s shares give the standard an equity use case, rather than a theoretical one.

Veridian uses open technical standards known as KERI and ACDC to issue digital credentials. The credentials are meant to let people, companies and software agents prove their identity or authority without a central database holding the information.

The Cardano Foundation said Veridian’s wallet is live on iOS and Android and that it has mapped Utah’s digital-identity requirements. Utah’s SB 275, which took effect in May, created the state’s State Endorsed Digital Identity Program.

Gregaard said the Utah framework and the growing need to verify AI agents acting on behalf of people or companies created a reason to separate Veridian from the nonprofit foundation.

Masumi, an AI-agent payment and identity network built on Cardano by Serviceplan Group and NMKR, already uses Veridian. The companies say it allows a counterparty to verify an agent’s credentials before making a payment and to revoke them if the agent is compromised.

“AI agents will need verifiable identity too,” he said. “Veridian can serve that market better as its own company.”