Aviva Investors launches tokenized class of £22 billion sterling fund on XRP Ledger

what happened

Aviva Investors, the asset management unit of UK insurer Aviva, has issued a tokenized share class of its Sterling Liquidity Fund on the XRP Ledger together with Ripple. According to The Block, the fund holds around £22 billion ($29.4 billion) in assets. Aviva put £50 million ($66.7 million) into the new class, and its two tokenized funds now hold more than £86 million ($114.8 million) in total.

Cointelegraph notes that this is Aviva's second tokenized fund on XRPL, following the July expansion of its USD Liquidity Fund. The fund has operated since 2002, invests in high-grade short-term sterling debt and offers daily liquidity. BNY Mellon holds the fund's assets, while investors' stakes are represented onchain and the fund itself keeps operating offchain.

why it matters

For markets, this is an example of traditional money market funds moving onto blockchain rails without changing their investment objective or regulatory protections. The tokenized part is still small next to the full fund, so the market impact is limited. According to RWA.xyz data, the XRP Ledger ranks ninth among blockchains for tokenized real-world assets.

market impact

Money market funds: a new digital channel for institutional investors; XRP sees limited direct interest

tags

instruments