defi ·
Cardano Foundation joins Swiss group to support tokenized shares
Cardano Foundation has joined Switzerland's Capital Markets and Technology Association (CMTA), bringing its recently rolled out programmable token standard into an industry group working on standards for regulated securities.
The Foundation will work with CMTA to advance standards for tokenized capital markets, according to an October 29 announcement. The association confirmed the membership in a separate statement, following its decision this month to recognize Cardano's CIP-0113 token standard as technically equivalent to its CMTAT framework for tokenized shares. The Cardano Foundation is now a member of CMTA.
Following the launch of CIP-0113, CMTA recognized it as equivalent to the CMTAT, meaning issuers can use it to tokenize certifiable shares. Together, we will work to advance standards for tokenized capital markets. https://t.co/tsFBLQhgQh pic.twitter.com/SQ00NCFXiq At the same time, the recognition allows companies to use Cardano's approved smart contract implementation when issuing shares that may qualify for CMTA certification under Swiss law. Still, the decision concerns the technical standard and does not automatically certify individual issuers or their securities.
