Aviva Investors Tokenizes £22B Sterling Fund on XRP Ledger

Aviva Investors and Ripple announced on Oct. 26 the launch of a tokenized share class of the Aviva Investors Sterling (GBP) Liquidity Fund, the asset manager's largest fund at roughly £22 billion in assets. The tokens are issued on the XRP Ledger, and Aviva itself put £50 million into the new class.

Details

According to Aviva Investors' press release, the fund is an Ireland-domiciled UCITS money market fund that holds high-grade short-term sterling debt. It first launched in 2002. The tokenized class uses a "digital twin" model: ownership records are mirrored on-chain while the fund's main structure stays off-chain. Assets are held by Bank of New York Mellon, with Komainu as digital asset custodian and Licuido as the infrastructure platform.

It is the firm's second tokenized fund; the USD Liquidity Fund class launched on July 29. Aviva says more than £86 million (about $116 million) is now invested across the two tokenized classes. The new class is open to eligible investors with digital wallets. The Block also covered the launch.

What it means for the market

Tokenized money market funds keep drawing traditional managers onto public chains; this week JPMorgan put its funds on Solana. For the XRP Ledger, it is another use of the network by a large European manager. The launch has no direct effect on the price of XRP, since it concerns issuing fund tokens rather than buying XRP.

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