Key facts
- Aviva Investors has launched its first tokenized fund on the XRP Ledger.
- The fund is a tokenized share class of its USD Liquidity Fund.
- The partnership with Ripple aims to tokenize real-world assets at scale.
- The fund offers exposure to high-grade US dollar-denominated short-term debt instruments.
- Eligible investors with digital wallets can access the new share class.
- BNY Mellon will act as the custodian for the fund's assets.
- The Central Bank of Ireland approved the launch of the tokenized fund.
U.K. asset manager Aviva Investors has launched its first tokenized fund, a USD Liquidity Fund, on the XRP Ledger in collaboration with crypto firm Ripple. This initiative marks a significant step in tokenizing real-world assets at scale, following a partnership announced earlier this year. The tokenized share class is designed to provide investors with exposure to high-grade, short-term U.S. dollar-denominated debt instruments, aiming for low-risk returns and daily liquidity. Eligible investors will be able to access the fund through digital wallets. The launch has received approval from the Central Bank of Ireland, and BNY Mellon will serve as the custodian for the fund's underlying assets. Komainu and Licuido also provided support for the launch. The XRP Ledger has been experiencing increased activity in tokenization, with the total tokenized value on the network currently exceeding $4.3 billion. This development coincides with ongoing upgrades to the XRP Ledger aimed at boosting institutional adoption.