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Aviva puts £22bn sterling fund share class on XRP Ledger

Aviva Investors and Ripple launched a tokenized share class of the £22 billion Sterling Liquidity Fund on XRPL, with £50 million invested by Aviva at launch.

By Web3 Hub Newsroom2 min read

Aviva puts £22bn sterling fund share class on XRP Ledger

Aviva Investors and Ripple launched a tokenized share class of Aviva’s £22 billion Sterling Liquidity Fund on the XRP Ledger on Oct. 26, with Aviva investing £50 million in the new offering, according to Aviva Investors’ announcement. The launch gives eligible investors with digital wallets access to tokenized shares in the Irish-domiciled money market fund.

How does the tokenized share class work?

Aviva says the fund uses a “digital twin” model: investor holdings are represented on-chain, while the existing fund structure remains off-chain. The tokenized shares retain the conventional fund’s investment objective, risk profile, liquidity characteristics and regulatory protections, the firm said.

The fund, launched in 2002, invests in high-grade, sterling-denominated short-term debt and offers daily liquidity. The Bank of New York Mellon holds its assets. Digital asset custodian Komainu and infrastructure provider Licuido supported the launch.

How much has Aviva invested in tokenized funds?

Aviva’s £50 million investment brings its total investment across two tokenized money market fund share classes to more than £86 million, according to The Block’s report. The first was a tokenized share class of Aviva’s US Dollar Liquidity Fund, launched on the XRP Ledger in July.

Aviva said more than £86 million is invested across the two offerings, including the new class, and described itself as one of Europe’s largest tokenized money market fund providers. The sterling fund’s approximately £22 billion in assets under management is the size of the underlying fund, not the amount tokenized.

What comes next for the partnership?

Aviva Investors CEO Mark Versey said the firm would continue working with Ripple to explore tokenized fund structures. The company gave no date for another launch; the sterling share class is now available to eligible investors with digital wallets.

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