Cardano Foundation Quarterly: Q3 2025

Following a dynamic third quarter, the Cardano Foundation continues to advance its mission through steady, purposeful action. Our work reflects the strength of Cardano’s infrastructure and focuses on three strategic pillars: adoption, technology, and governance.

We promote ecosystem collaboration, drive enterprise integration, and strengthen operational resilience—advancing trust, usability, and sustainable innovation across the Cardano ecosystem. This update highlights the tangible progress achieved through these priorities and our ongoing commitment to Cardano’s long-term vision.

A Cardano Summit that means business

In June, the Cardano Foundation announced key details and programming for Cardano Summit 2025, which will take place in Berlin from 12–13 November. The event will unite global leaders from finance, technology, and policy to examine the convergence of blockchain, AI, and digital transformation. Sessions will explore frameworks that enable enterprise adoption, reinforce compliance, and advance the responsible use of decentralized infrastructure. Frederik Gregaard, CEO of the Cardano Foundation, outlined the Summit’s purpose: to provide clarity and practical guidance for executives navigating emerging technologies.

The Foundation has since unveiled a distinguished roster of speakers, including Tim Draper (Founder, Draper Associates), Christian Rau (Senior VP, Blockchain & Digital Assets, Mastercard), Guillaume Brunet (Head of Innovation, Orange Business), Philip Pon (CEO, EMURGO), Ivan Branco (Head of AI & Analytics, Volvo), Pankhuri Bansal (UN Blockchain & AI Expert), Bernhard Kronfellner (BCG Digital Assets), and Ayumi Moore (CEO, Women in Tech Global). Their participation reinforces the Summit’s position as a global hub for collaboration on blockchain and emerging technology strategies.

Day Zero, a builders-first gathering that opens on 11 November at w3.hub Berlin, includes governance sessions, lightning talks, and live demos, the Layer Up hackathon, and the Battle of the Builders pitch contest, followed by drinks and networking. This format encourages early collaboration between developers, entrepreneurs, and enterprise leaders before the Summit’s full discussions.

Also on that day in Berlin, the DARTE roundtable joins selected policymakers and industry leaders in an invite-only setting to discuss the adoption of interoperable, compliant digital identity and verification services.

On 7 October, the top ten early-stage startups advanced to the final round and will pitch live in Berlin for prizes, mentorship, and visibility within the Cardano ecosystem. The competition continues the success of last year’s $665,000 prize pool, strengthening support for innovators who advance real-world adoption through Cardano’s technology.

The Cardano Summit Awards also return to celebrate the community’s most impactful contributors across twelve categories, from infrastructure and governance to DeFi and education. Nominations closed on 31 August, and voting remains open until October 15 via Cardano Ballot. Winners will be honored live during Cardano Summit 2025 in Berlin.

Community energy also extended beyond Europe this quarter. Several members of the Cardano Foundation joined Dev/Gov Day at Top Golf Las Vegas during RareEvo in August. The gathering brought together blockchain innovators for workshops, technical sessions, and governance dialogues to strengthen Cardano’s digital infrastructure through collaboration and shared learning.

A growing presence in Latin America

Momentum carried forward as the Foundation expanded its presence across Latin America. On October 15, the Foundation hosted Cardano in Rio, a regional Summit event designed to deepen engagement within the LATAM ecosystem. The program featured panels, workshops, and community sessions focused on collaboration among enterprises, developers, builders, and local stakeholders.

This follows the Foundation’s Platinum Sponsorship of Blockchain Rio 2025, where the team showcased Cardano’s role in advancing blockchain innovation across the region. During the event, Rafael Fraga, the Foundation’s LATAM Lead, shared insights on creating inclusive and scalable systems that promote transparency, drive real-world adoption, and strengthen Cardano’s footprint in Latin America.

Building connections across the Cardano ecosystem and beyond

Beyond this regional engagement, the Cardano Foundation advanced a range of global initiatives that underscored Cardano’s adaptability and growing institutional relevance. Each effort reflected the network’s focus on transparent, compliant, and enterprise-ready blockchain adoption.

The Foundation deepened its presence in institutional finance through its support of MembersCap as an anchor investor in MCM Fund I, the first tokenized institutional-grade reinsurance fund. This collaboration bridged traditional and digital asset markets, showcasing Cardano’s robust infrastructure for regulated, blockchain-based financial products.

In the agricultural domain, fWHEAT, a tokenized premium wheat product from Argentina, launched on Cardano with support from the Cardano Foundation, Finest Tokenize, and NMKR. Fully collateralized and independently audited, the product incorporates on-chain certification to ensure transparency and verifiable authenticity, advancing the integration of real-world assets into the ecosystem.

The Foundation also welcomed Agrow Labs as a co-maintainer of its open-source repository for product origin and certification. This collaboration strengthened enterprise-grade traceability and supported broader blockchain adoption across global supply chains, reinforcing Cardano’s commitment to open innovation and verifiable transparency in commerce.

Collaboration with early-stage founders continued through the Techstars Cardano Founder Catalyst Pre-Accelerator, introduced during an AMA session on 29 July. The program targets blockchain entrepreneurs building on Cardano or integrating Web3 components, offering guidance, mentorship, and investment pathways to accelerate innovation.

To align these developments with long-term strategy, the Cardano Foundation released an updated roadmap outlining six priority areas: deeper DeFi liquidity, accelerated Web3 adoption, expansion of the Venture Hub, real-world asset integration, enhanced global visibility, and inclusive governance. The roadmap includes a revised SPO delegation model and a renewed commitment of ADA resources toward ecosystem impact and sustainability.

Showcasing practical blockchain applications

Throughout Q3, the Cardano Foundation advanced multiple initiatives designed to strengthen enterprise adoption and demonstrate Cardano’s utility across business, finance, and social impact sectors. These activities highlight the growing use of blockchain as a verifiable data layer supporting accountability, transparency, and trust in global systems.

Reeve launched as an enterprise reporting layer built on Cardano, designed to bridge ERP systems and on-chain verification. The platform records financial data immutably, enables customizable transparency, and supports audits and compliance while reducing fraud and operational silos. The Foundation continues to engage early adopters for integration across organizations, prioritizing financial integrity and data assurance.

A detailed case study examined how Reeve operates as a financial integrity layer by connecting directly with existing ERP environments. This integration preserves familiar workflows while offering immutable, transparent reporting dashboards that strengthen stakeholder confidence and enhance auditability across organizational networks.

We further showcased Book.io and its Decentralized Encrypted Assets (DEAs) framework, a blockchain-native format for verifiable and transferable digital book ownership with perpetual royalties. This approach demonstrates Cardano’s capacity to support decentralized publishing models, empowering creators with immutable intellectual property protection and transparent value exchange.

In the development sector, the UNDP’s Tadamon program leveraged Cardano through Veridian, a verifiable credentials platform enhancing the integrity of Civil Society Organizations across 57 countries. The initiative provides scalable, transparent digital identity infrastructure that strengthens trust, mitigates fraud, and supports mission-critical operations within international development ecosystems.

Enterprise adoption discussions extended to the Let’s Talk Cardano podcast series, where Jeremy Firster, Global Enterprise Adoption Lead, and Thomas Mayfield, Head of Decentralized Trust and Identity Solutions, explored Veridian’s quantum-resistant identity framework. The conversation unpacked the use of KERI and ACDCs anchored on Cardano to achieve verifiability, transparency, and long-term security in decentralized identity systems.

Another episode featured Fulvio Magni and Francesco Pagano, who discussed RE-TWIN by Tokenance and its integration of blockchain and AI for real estate tokenization on Cardano. The discussion provided insight into property digitization and the evolving role of Web3 infrastructure in transforming traditional asset markets.

Connecting communities, accelerating adoption

The Foundation continued its global engagement through collaborative events and ecosystem sessions designed to strengthen relationships and showcase Cardano’s growing reach across regions and industries.

At Token2049 in Singapore, the Foundation joined industry leaders to demonstrate how Cardano enables transparent, scalable blockchain adoption. Participation formed part of the Unified Global Events Marketing Strategy approved through DRep and community governance. Alongside the conference, the Foundation supported a community-driven meetup at The NCO Club, which combined networking, live music, and discussion to connect Cardano stakeholders throughout Asia.

The Foundation also co-hosted The Snek Den with EMURGO and Snek during Token2049, uniting ecosystem builders and partners to explore new opportunities for collaboration and growth. The gathering underscored Cardano’s commitment to fostering regional ecosystems and empowering local communities to drive adoption.

A dedicated Bitcoin × Cardano X Space session further advanced cross-chain dialogue, featuring teams actively developing interoperability bridges. The discussion highlighted technical pathways that promote composability and expand Cardano’s role within the broader blockchain landscape.

On 3 July, the Foundation also joined CoinRabbit for an AMA on X Spaces with Jide Fashola, Global Financial Infrastructure Lead, and Irene Afanaseva, CMO of CoinRabbit. The session introduced both organizations, examined blockchain finance innovation, and identified emerging opportunities for collaboration within Cardano’s expanding financial ecosystem.

Expanding Cardano’s reach through education

Education remained a central focus throughout Q3, as the Cardano Foundation advanced programs that cultivate technical expertise, strengthen entrepreneurial capacity, and expand global blockchain literacy. These initiatives continue to align learning with practical adoption, empowering builders, developers, and organizations to create sustainable impact within the ecosystem.

The Foundation concluded the first cohort of its Venture Hub pilot program featuring LW3, Iagon, and Andamio. Participants refined product strategies, validated market approaches, and strengthened business models for scalability within the Cardano ecosystem. The pilot marked a significant milestone in supporting sustainable, builder-led growth and enterprise readiness.

Collaboration with academia deepened through the Cardano x UZH Summer School Meetup hosted in Zurich and Cape Town on 15 July. Conducted in partnership with the University of Zurich Blockchain Center and supported by Bitget scholarships, the sessions advanced blockchain education and reinforced the Foundation’s long-term commitment to academic collaboration and research-driven adoption.

The Cardano Academy continued to expand access to structured learning through several new courses launched in Q3. In partnership with Binance Academy, the Cardano Fundamentals course covers blockchain essentials, Cardano’s architecture, staking, and smart contracts. The partnership broadened the reach of foundational blockchain education to a global audience.

The Academy also introduced Staking Rewards and Calculation, a technical mini-course offering intermediate learners insights into Cardano’s proof-of-stake mechanism. The program opens the Foundation’s staking rewards calculation code for exploration, deepening understanding of protocol economics and operational transparency.

Complementing this, the Blockchain Fundamentals course provided an accessible entry point into blockchain concepts, including decentralization, consensus, cryptography, and ledger design. It aims to build a foundational understanding of distributed systems and encourage broader participation in the Cardano ecosystem.

To further engage developers, the Academy released Aiken: EUTXO Smart Contracts on Cardano, a four-hour self-paced course focused on DApp architecture and validator construction. The program guides learners through the eUTxO model and Aiken syntax, preparing participants for deeper technical contributions to Cardano’s smart contract landscape.

Advancing infrastructure and enabling innovation

The Cardano Foundation continued to advance the technical foundations that support enterprise adoption, developer enablement, and network resilience. These efforts demonstrated how robust engineering, transparent collaboration, and open-source tooling strengthen the broader ecosystem and accelerate innovation across multiple domains.

Developer engagement remained a key focus. On 11 July, the Foundation hosted Developer Office Hours #23 featuring Reeve. The session explored Reeve’s technical architecture, repository usage, and code structure while addressing privacy considerations and audit functionality. The open discussion fostered a deeper understanding of blockchain-based financial accounting systems and transparency tooling.

The High Assurance Lab expanded its rigorous testing program through integration with Antithesis, a deterministic simulation platform that evaluates Cardano-node under fault injection and network stress scenarios. These experiments surfaced known issues and uncovered new ones, enabling more resilient code and performance optimization. Upcoming plans include wider test coverage, integration of alternative node implementations, and democratized access through on-chain test tracking.

The Foundation also launched Tool Compass, an interactive decision engine designed to simplify development on Cardano. The platform classifies available resources—such as indexers, APIs, SDKs, and node connection methods—and provides blueprints, workflows, and live updates. This initiative supports developers in selecting the right tools, accelerating project architecture decisions, and reducing integration complexity.

Developer Office Hours also featured UVer1fy, a tool for publishing tamper-proof digital certificates that include custom metadata and link full reports via secure Web2 access for auditors. The solution bridges practical enterprise needs with blockchain integrity, illustrating how developers continue to build trusted, transparent infrastructure on Cardano.

Institutional transparency expanded further through a collaboration with Token Terminal, enhancing coverage of Cardano native tokens. This integration improves access to on-chain analytics, supports informed research and investment, and advances institutional understanding of Cardano’s decentralized economic activity.

Strengthening governance and reinforcing trust

Beyond technical advancements, the Foundation deepened its governance work to support transparency, accountability, and inclusive participation across the ecosystem. These initiatives strengthen community confidence and operational clarity as Cardano advances toward full on-chain governance.

The Foundation launched the Cardano Governance Voting Tool, enabling stakeholders to participate confidently in on-chain decision-making. Users can create, sign, and submit votes accompanied by documented rationale, and generate verifiable records for transparency. Integrated with complementary platforms such as gov.tools and tempo.vote, the tool reinforces open, auditable governance processes that encourage informed engagement.

To enhance understanding of governance, the Foundation also released 14 detailed flowcharts illustrating key governance actions and their voting rules. These visual references clarify procedures, thresholds, and conditions, offering the community accessible guidance and strengthening comprehension of Cardano’s governance framework.

During Project Catalyst Fund 14, the Foundation refined its participation strategy, constraining its voting power to approximately ₳20 million and concentrating efforts within the Partners and Products track. Subject-matter experts introduced a Representative role, providing proposal reviews and roundtable insights. The initiative reinforced community-led decision-making while ensuring balanced, strategic evaluation within Catalyst.

The Cardano Constitution now publishes its full charter, ratification history, and IPFS download link on Cardano.org, granting the community direct access. The Constitution defines the governance structure, delineates the rights and responsibilities of participants, and establishes the roles of DReps, SPOs, and the Constitutional Committee. It also sets the thresholds for amendment and change, ensuring transparent, legitimate governance.

Finally, the Foundation voted in favor of the Amaru Treasury Withdrawal 2025 governance action after determining constitutional compliance. This decision reaffirmed the Foundation’s commitment to transparent participation and adherence to the governance framework while supporting well-structured treasury proposals aligned with Cardano’s long-term mission.

Look ahead to the fourth quarter

The Cardano Foundation concludes Q3 with sustained progress across adoption, technology, and governance. As Q4 begins, focus remains on enterprise readiness, developer enablement, and transparent governance—advancing Cardano’s mission to deliver secure, verifiable systems that foster trust, empower communities, and accelerate global blockchain adoption.