Aviva Investors launches tokenized XRP Ledger share class of £22 billion sterling fund
In brief
- Aviva Investors launched a tokenized share class of its Sterling Liquidity Fund on the XRP Ledger.
- The Sterling Liquidity Fund is the firm's largest, with approximately £22 billion in assets, Aviva Investors says.
- Aviva Investors' two tokenized share classes have drawn more than £86 million, including £50 million from Aviva.
- BNY Mellon remains custodian; Komainu and Licuido supported the launch.
Second fund on-chain since July
It's the firm's second tokenization of an existing fund. The launch followed a tokenized share class for its USD Liquidity Fund in July.
Across both tokenized share classes, Aviva Investors has attracted more than £86 million ($116 million) in investment, according to the statement. That total includes a £50 million ($66 million) investment by Aviva itself in the new sterling-denominated offering, so the parent group's own money accounts for £50 million of the £86 million.
Crypto Briefing reported that the launch puts Aviva Investors among Europe's largest providers of tokenized money market funds.
How the digital twin works
The fund is an Ireland-domiciled UCITS money market fund. It uses a "digital twin" structure that represents holdings on a blockchain without replacing the existing off-chain fund framework.
Token holders don't get a different product.
They receive the same investment objective, risk profile, liquidity characteristics and regulatory protections as conventional investors, per the statement. First launched in 2002, the fund invests in high-grade, short-term sterling-denominated debt instruments (it's aiming for low-risk returns and daily liquidity).
The XRP Ledger handles issuance and management of the tokenized share class, while The Bank of New York Mellon remains custodian of the fund's assets. Institutional digital asset custodian Komainu and real-world-asset tokenization platform Licuido supported the launch. The offering's open to eligible investors with digital wallets.
Regulatory fit and the network
Aviva Investors said the structure operates within existing regulatory frameworks and provides a scalable basis for future changes to fund distribution and market infrastructure.
On the network side, Crypto Briefing reported that the XRPL has processed more than 4 billion transactions since its 2012 launch. It has grown to nearly 8 million active wallets, the outlet said, with more than 130 independent validators.
Frequently asked questions
What did Aviva Investors put on the XRP Ledger?
Aviva Investors launched a tokenized share class for its Sterling (GBP) Liquidity Fund on the XRP Ledger. The firm says it's its largest fund, with approximately £22 billion in assets. The XRPL handles issuance and management of the tokenized share class.
How does the 'digital twin' structure work for Aviva's fund?
The Ireland-domiciled UCITS money market fund uses a digital twin that represents holdings on a blockchain without replacing the existing off-chain fund framework. Token holders get the same investment objective, risk profile, liquidity characteristics and regulatory protections as conventional investors. BNY Mellon remains custodian of the fund's assets.
How much have Aviva's tokenized funds raised?
Across its two tokenized share classes (USD and sterling), Aviva Investors has attracted more than £86 million ($116 million), according to the firm's statement. That includes a £50 million ($66 million) investment by Aviva in the new sterling-denominated offering.
