Aviva, Ripple tokenize £22 billion sterling fund 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, adding an on-chain access route to the existing money market fund, Aviva Investors said in its announcement. The fund is the asset manager’s largest, and the launch is its second tokenized fund share class.

How does the tokenized share class work?

Aviva describes the arrangement as a “digital twin” model: fund holdings can be represented on-chain while the underlying fund structure remains off-chain. The Ireland-domiciled UCITS money market fund invests in high-grade, sterling-denominated short-term debt and dates to 2002, according to Aviva.

Eligible investors with digital wallets can access the share class. Aviva says it has the same investment objective, risk profile, liquidity characteristics and regulatory protections as the conventional fund. The fund targets daily liquidity, but Aviva says money market fund investments can fluctuate in value and are not deposits.

How much has Aviva invested?

Aviva invested £50 million in the new share class, the company said. That brings its total investment across the Sterling and previously launched US dollar tokenized share classes to more than £86 million, according to The Block’s report.

The Bank of New York Mellon holds the fund’s assets. Aviva said Komainu supported the launch as digital asset custodian, while Licuido provided tokenization infrastructure. The tokenized share class is available on the XRP Ledger.

What comes next for the tokenized funds?

The sterling share class follows Aviva’s US dollar fund share class, launched in July 2026. Aviva Investors CEO Mark Versey said the firm would continue exploring tokenization with Ripple; the announcement did not give a date for another launch.

References

• Aviva Investors said in its announcement — avivainvestors.com
• The Block’s report — theblock.co