XRP Ledger Gets Tokenized Slice of a £22B Sterling Fund

Aviva Investors has expanded its digital asset footprint by launching a tokenized sterling share class of its £22 billion Sterling Liquidity Fund on the XRP Ledger. This move follows the successful July launch of a dollar-denominated share class on the same blockchain, bringing the combined assets under management for both tokenized classes to over £86 million. By offering a sterling-denominated option, Aviva aims to eliminate exchange-rate risks for UK-based institutional clients who previously had to convert cash to access dollar-based funds. The initiative utilizes a digital-twin model where tokens mirror shares in the underlying fund, with BNY Mellon acting as the asset custodian and Komainu providing digital custody. While the total tokenized volume remains a small fraction of the fund's overall size, the expansion highlights a strategic shift toward prioritizing platform integration and transparency to attract institutional capital. The tokens facilitate near-instant settlement and round-the-clock trading, though they remain subject to strict KYC and AML requirements. Ultimately, this development underscores the growing trend of traditional asset managers leveraging blockchain infrastructure to improve distribution efficiency for money market funds.