Aviva Investors, Ripple launch tokenized share class of $29 billion sterling fund on XRP Ledger
RWA Signal Insight
Active StrategiesAviva Investors has expanded its digital asset footprint by launching a tokenized share class of its £22 billion Sterling Liquidity Fund on the XRP Ledger. This initiative, supported by Ripple, follows an initial £50 million investment into the new share class, bringing the firm's total tokenized money market fund assets to over £86 million. The fund utilizes a digital twin model where holdings are represented on-chain while the underlying assets remain managed off-chain. BNY Mellon serves as the asset custodian, with additional infrastructure support provided by Komainu and Licuido. This launch builds upon a partnership established in February and follows the successful introduction of a U.S. dollar liquidity fund share class in July. By leveraging the XRP Ledger, Aviva aims to enhance operational efficiency and improve client outcomes for its UCITS-compliant money market offerings. The move signals a growing institutional commitment to integrating traditional investment vehicles with blockchain-based settlement and record-keeping infrastructure.
Key points
- Aviva Investors launched a tokenized share class for its £22 billion Sterling Liquidity Fund.
- The firm invested £50 million into the new share class on the XRP Ledger.
- Total tokenized assets under management for Aviva now exceed £86 million.
- BNY Mellon acts as the custodian for the fund's underlying sterling-denominated debt instruments.
Background
Aviva Investors is the global asset management division of the UK-based insurance company Aviva, managing billions in assets across various traditional investment vehicles. The Sterling Liquidity Fund is a UCITS-compliant money market fund that invests in high-grade, short-term debt instruments to provide daily liquidity to institutional investors.