The Cardano Foundation has spun out Veridian and tokenized its shares as Swiss ledger-based securities under CIP-0113. What that means for ADA holders.
- The Cardano Foundation has tokenized the shares of its spun-out identity unit, Veridian, as Swiss ledger-based securities on the Cardano blockchain under the new CIP-0113 standard.
- This marks the first use of CIP-0113 for a real security, allowing for programmable features like transfer restrictions and frozen holdings, though it does not affect ADA or other native tokens.
- While the Veridian shares are not publicly offered, the development signifies a step towards tokenizing real-world assets on Cardano and has coincided with a 7.3% price increase for ADA.
Topics: Asset types, Legal regulatory, Infrastructure providers, Alternative assets, Securities law classification, Tokenization platforms
Tags: #cardano #veridian #cip0113 #tokenizedshares #swissdltact #programmabletokens #ada #cardanofoundation #digitalidentity #ledgerbasedsecurities
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