Aviva puts £50M into tokenized sterling fund on XRP Ledger
What's the deal? Aviva InvestorsDealroom has a profile for this one. Try Dealroom → has launched a tokenized share class of its Sterling Liquidity Fund on the XRP Ledger and committed £50 million to it. The fund itself holds roughly £22 billion, but only the new share class — not the whole portfolio — sits on-chain.
How it works: The Ireland-domiciled UCITS money market fund keeps its structure off-chain, while tokens mirror holdings on the ledger. BNY custodies the underlying assets, Komainu handles digital asset custody, and Licuido supplies the tokenization platform.
Why now? This is Aviva's second tokenized product after a US dollar liquidity fund launched in July, extending a Ripple partnership struck in February. Combined investment across the two share classes now exceeds £86 million, or roughly $116 million.
Who can access it? The tokenized shares are open to qualified investors with digital wallets, who keep the conventional fund's investment objective, risk profile, and regulatory protections.
What's the endgame? Aviva called its first launch a "scalable foundation for future innovation in fund distribution and market infrastructure." For now, utility is limited: the tokens are not transferable and mirror a conventional book entry reconciled daily, which blunts their use for collateral mobility.
The signal: The move adds another major asset manager to a wider institutional push into tokenized real-world assets, alongside JPMorgan's tokenized money-market funds and BlackRock's BUIDL. But the substance is modest — Aviva is tokenizing access to an existing regulated fund with a small allocation, not evidence that tokenization has yet changed fund liquidity or distribution.
Read more: coinmarketcap.com
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