Aviva Investors and Ripple launch a tokenized share class of a £29 billion sterling fund on XRP Ledger, with Aviva investing £50 million.
Tech & Launches ·
Aviva Investors and Ripple have launched a tokenized share class of a £29 billion sterling fund on the XRP Ledger, with the asset manager committing £50 million ($66.7 million) to the new offering. This deployment represents part of a broader expansion of tokenized money market fund products, bringing Aviva's total investment across its two such offerings to more than £86 million ($114.8 million).
The move builds on existing infrastructure for issuing digital versions of traditional financial products on the XRP Ledger, a public blockchain network. By tokenizing a sterling liquidity fund—converting its shares into blockchain-native assets—the initiative aims to streamline settlement and access for institutional participants while maintaining the fund's underlying sterling exposure.
The initiative signals continued institutional adoption of tokenized assets on alternative ledgers, though broader regulatory clarity around tokenized fund offerings and their treatment in various jurisdictions remains in development.