Cardano Foundation Joins the Ripple-Cofounded MiCA Crypto Alliance: Details

The Cardano Foundation has joined forces with the MiCA Crypto Alliance and will now provide resources to boost the Web3 ecosystem.

Notably, the Cardano Foundation also confirmed this move today, expressing its willingness to collaborate with the alliance to boost regulatory adherence in the Web3 ecosystem.

Notably, the Cardano Foundation’s entrance into the association would help in the creation of the compliance resource for the Web3 ecosystem. The MiCA Crypto Alliance would also release a MiCA-compliant white paper on ADA, the native token of the Cardano network.

The alliance highlighted its importance, noting that the ADA white paper would support crypto-asset trading platforms (CATPs) in ensuring they meet the obligations of offering the token to the public. It would also serve as a benchmark for other exchanges and issuers looking to draft a similar piece.

Incorporation of Cardano-Native Tokens

The white paper template release would also incorporate Cardano Native Tokens (CNTs). MiCA Crypto Alliance would also release an updated paper for the tokens, building on the original template published by the Cardano Foundation.

The alliance noted that it will publish the ADA white paper and the updated white paper in the coming days. It will also share further updates if it releases them for public use.

Notably, Exponential Science (formerly the DLT Science Foundation) founded the MiCA Crypto Alliance in September 2024 with three founding members. They include Hedera, Ripple, and the Aptos Foundation. The initiative was to streamline MiCA regulation compliance, following the debut of the regulatory policy in Europe.

Additionally, the move follows the Cardano Foundation’s resolve to push the adoption of the ADA ecosystem globally. It recently approved the commitment for eight-figure ADA tokens to boost stablecoin DeFi liquidity in the network.