Switzerland

The Cardano Foundation has separated Veridian into an independent Swiss company focused on digital identity for people, businesses and AI agents. Veridian has tokenized most of its 1 million shares on Cardano using CIP-0113, a new programmable token standard designed for regulated assets.

Europe’s crypto market is moving from the race for regulatory approval into a phase defined by compliance capacity, balance sheet strength and institutional partnerships. As MiCA takes hold and the U.K. advances its own framework, smaller firms may face pressure to merge, sell or align with banks already built for regulation.