Aviva Investors and Ripple announced on Oct. 26 the launch of a tokenized share class for Aviva’s Sterling Liquidity Fund on the XRP Ledger. The underlying GBP fund has approximately £22 billion in assets under management, while Aviva Investors has committed £50 million to the new on-chain class.
The commitment brings Aviva Investors’ investment across its two tokenized money-market fund offerings to more than £86 million, according to the firm’s announcement.
Aviva commits £50 million to XRP Ledger share class
The new product is a share class of Aviva’s existing Sterling Liquidity Fund rather than a separate £22 billion fund transferred to a blockchain. Aviva Investors and Ripple described the arrangement as an expansion of Aviva’s tokenized offering, with the XRP Ledger providing the on-chain venue for the share class.
The £50 million initial commitment is a small portion of the conventional fund’s approximately £22 billion asset base. Ripple confirmed the fund size and the XRP Ledger launch in its Oct. 26 release.
Digital twin keeps UCITS fund and assets off-chain
The structure uses what the companies call a “digital twin” model: investor holdings are represented on-chain, while the existing Ireland-domiciled UCITS money-market fund remains off-chain.
According to Ripple, BNY Mellon holds the underlying assets. The tokens therefore represent holdings in the fund’s share class rather than placing the fund portfolio itself directly on the ledger.
Wallet access and fund protections
Eligible investors can access the tokenized share class through digital wallets. Komainu and Licuido provide digital-asset custody and infrastructure support, The Block reported.
The tokenized class is intended to retain the conventional fund’s investment objective, risk profile, liquidity characteristics and regulatory protections. The design therefore pairs wallet-based access and an on-chain record of holdings with an existing regulated fund and off-chain asset custody.
