Cardano Foundation Makes the Case for Trust as Blockchain’s Defining Advantage at TOKEN2049 Singapore
Programmable tokens go live on mainnet and Veridian spins out as compliance and identity move on-chain
Zug, Switzerland & Singapore, 8 October, 2026 - The Cardano Foundation last week launched its programmable token standard (CIP-0113) on Cardano mainnet and spun out Veridian as an independent digital identity company, unveiling both at TOKEN2049 Singapore. Together, they build compliance and verified identity into the infrastructure layer, so regulated assets can carry their own rules, and the institutions, people, and AI agents behind them can prove who they are.
In a fireside chat titled “Beyond the Token: What Do You Actually Own?” Frederik Gregaard, CEO of the Cardano Foundation and Chair of Veridian, argued that as real-world assets move on-chain, the question is no longer the token itself, but whether the rights, rules and identities behind it can be trusted. That trust, he said, starts with transparency, and most of the industry is still approaching it backwards.
During the conversation, moderated by David Wachsman, Founder and CEO of Wachsman and President of Hawkeye Digital, Gregaard stated: “Transparency is a public good, but most people start from zero transparency and then go halfway. Instead, we should start with full transparency on a public blockchain, and then layer on privacy tech stacks. That will work better for everyone, especially in terms of regulation and investor protection.”
Programmable tokens now live on mainnet
On the first day of TOKEN2049, the Cardano Foundation announced that the programmable token standard (CIP-0113) is now live on Cardano mainnet. It allows issuers of stablecoins, tokenized funds, bonds and other regulated assets to embed rules such as KYC and AML checks, sanctions screening, and transfer restrictions in the token itself. The Cardano ledger enforces those rules every time the token moves.
Veridian becomes an independent company
The Cardano Foundation also announced the spinning-out of Veridian as an independent digital identity company. While the token standard defines the rules for a regulated asset, Veridian confirms who is on the other side of the transaction. Led by CEO Thomas A. Mayfield, it gives governments, organizations and AI agents verifiable credentials that prove who they are and what they are authorized to do, without relying on a central database.
Veridian’s own shares are the first asset tokenized on Cardano under the new standard. Veridian will seek strategic partners and investors in 2027 to grow its work with US state governments, its enterprise business in Europe and its issuer network across Asia-Pacific.
Fireblocks and Draper Dragon
Gregaard also joined Stephen Richardson, Chief Strategy Officer and Head of Banking at Fireblocks, for a fireside at the Cardano booth. The discussion built on the recently announced Cardano Foundation and Fireblocks integration, which will bring Cardano native tokens to Fireblocks. Banks, exchanges and fintechs on the platform will be able to hold and move assets issued on Cardano under the controls they already apply to other assets.
On the evening of 7 October, Gregaard opened the UTXO Pitch Night, a TOKEN2049 side event co-presented by Draper Dragon and the Cardano Foundation on the rooftop of LAVO at Marina Bay Sands, and judged the startup pitches. Early-to-growth-stage founders building across Cardano and the wider UTXO ecosystem competed for up to US$500,000 in total funding in front of investors, alongside fireside keynotes from Draper Dragon Founding Partner Andy Tang and TPC CIO Hareesh Nair. The event builds on the Foundation’s partnership with Draper Dragon, including the $80 million Orion Fund, launched in early 2026 to back builders across the Cardano ecosystem.
Over the two days, more than 2,000 people visited the Cardano booth, where more than 30 projects presented. The TOKEN2049 Origins Hackathon brought together 200 builders, with the overall winning team emerging from the dedicated Cardano track, while more than 700 people registered for the Node Diversity Day, an event dedicated to strengthening Cardano’s node ecosystem.
“We leave Singapore with the token standard live, the identity layer independent, and the custody route set for March. The foundations are now in place, and our focus for 2027 is on helping institutions bring more real assets on-chain” said Gregaard.