Veridian Shares Digitally Registered on Cardano

The Cardano Foundation has registered the shares of its spin-off Veridian as digital securities under Swiss law. This is the first asset issued using this technology on the network. A public sale has not been announced. The shares represent an interest in Veridian and are digitally registered via Cardano. Veridian is an independent digital identity company, led by CEO Thomas A. Mayfield. The shares are referred to as ledger-based securities, with rights recorded in a digital ledger. This differs from Cardano's cryptocurrency ADA. There are no details regarding the possibility for ordinary investors to purchase the shares. Veridian aims to attract strategic partners and investors by 2027. Digital shares may have conditions on who can receive or resell them, and Veridian uses CIP-0113 to embed these conditions. This is the first issuance via CIP-0113 on Cardano.

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