Aviva Investors debuts tokenized fund class on XRP Ledger
RWA & Tokenization ·
The £246B asset manager has issued a blockchain-based share class of its US Dollar Liquidity Fund, marking its first tokenized product and the initial output of its Ripple tie-up.
Aviva Investors, which oversees £246B in assets, has put a tokenized version of its US Dollar Liquidity Fund onto the XRP Ledger, according to a post shared on x.com. This is the firm's first tokenized fund product and represents the first concrete result of its partnership with Ripple, which was disclosed in February.
Custody for the new structure is being handled by Komainu, while Licuido supplied the underlying tokenization technology. Despite the shift onto a blockchain rail, the fund's investment objective, risk profile and regulatory safeguards remain unchanged from the traditional version, and the underlying assets continue to be held with BNY Mellon.
Aviva has described the sign-off from the Central Bank of Ireland as a first-of-its-kind regulatory approval for a tokenized fund structure. The company is presenting the launch as evidence that tokenization can be layered onto existing fund oversight without altering the protections investors already rely on.
The move follows the broader partnership Aviva struck with Ripple earlier this year, positioning this fund launch as the first tangible product to emerge from that arrangement. The cluster shows two distinct sources covering the development, both pointing to the same set of facts: the XRP Ledger deployment, the Komainu-Licuido infrastructure split, and the Central Bank of Ireland's approval.
What remains unclear is how quickly Aviva plans to extend tokenization to other funds beyond the US Dollar Liquidity Fund, and whether other regulators will follow the Central Bank of Ireland's approach to tokenized share classes. Also unaddressed is the scale of investor uptake expected in the new share class relative to the conventional fund structure.