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Aviva Investors has launched a tokenized share class of its Sterling (GBP) Liquidity Fund on the XRP Ledger, bringing a fund with roughly £22 billion ($29.4 billion) in assets under management onto the network, according to Cointelegraph. Aviva and Ripple announced the move on October 26, 2026.
The sterling product is the asset manager’s second tokenized fund. Its first, a tokenized share class of the US dollar liquidity fund, went live on XRPL in July 2026; Crypto.news and Blockonomi both give the date of that earlier offering as July 29. Aviva invested £50 million ($66 million) in the new sterling class.
Also read: Malaysia's central bank launches DLT platform for tokenized bonds
Key facts
- The Sterling Liquidity Fund holds about £22 billion ($29.4 billion) in assets and is Aviva Investors’ largest fund.
- Aviva placed £50 million of its own money into the new tokenized sterling share class.
- Including the July dollar-fund class, Aviva’s two tokenized offerings hold more than £86 million ($116 million) in investments.
- The fund is an Ireland-domiciled UCITS money market fund established in 2002 that targets low-risk returns and daily liquidity, Blockonomi reported.
- BNY Mellon remains custodian of the fund’s assets, while Komainu and Licuido supported the launch, according to Crypto.news.
How the tokenized class works
Aviva described the structure as a digital twin. Ownership is represented on the XRP Ledger, while the existing off-chain fund and custody arrangements stay in place. Eligible investors holding digital wallets can buy the tokenized shares, and the company said they retain the same investment objective, risk profile, liquidity terms and regulatory protections as conventional shareholders.
Crypto.news stressed that the £22 billion figure is the fund’s total assets rather than the amount moved on-chain, and that the arrangement does not turn the fund’s holdings into XRP. The companies did not say how many outside investors had subscribed to the sterling class, or whether the structure brings new settlement services.
Also read: CFTC allows tokenized funds and on-chain records, not Bitcoin
Ripple’s role and the ledger’s record
Ripple said the XRP Ledger lets Aviva issue and manage the shares through fast, low-cost transactions. According to the announcement, the network has processed more than 4 billion transactions since 2012, supports nearly 8 million active wallets and is maintained by more than 130 independent validators.
Nigel Khakoo, Ripple’s senior vice president of trading and markets, said markets are shifting toward constant access and instant settlement, and he positioned the XRP Ledger as carrying the compliance, privacy and security features institutions require. Mark Versey, chief executive of Aviva Investors, said tokenised funds can raise efficiency and improve client outcomes, and described the expansion as evidence of the firm’s intent to lead in the area.
Cointelegraph, citing RWA.xyz data, reported that the XRP Ledger ranks ninth among blockchains for tokenized assets, with $642 million in distributed real-world asset value and about 2,900 unique holders.
Why it matters
Money market funds are the segment of tokenization that large managers have moved into fastest, because a tokenized share class can widen distribution without changing the fund’s underlying risks. Aviva says the two classes make it one of Europe’s larger providers of tokenized money market funds, a claim the companies make about themselves. For institutions, the practical effect is that cash held in a conventional treasury fund may be reachable through a digital wallet, while custody and regulation stay with established providers.
What to watch
Ripple’s Swell conference runs in New York from October 27 to 29, where tokenization is expected to be a focus, according to Crypto.news. Also unresolved is whether Aviva discloses outside subscriptions to the sterling class and whether it adds a third tokenized fund under the collaboration.
Reported by cointelegraph.com.
Sources: Cointelegraph, Blockonomi, Crypto.news