Key facts
- Aviva Investors launched a tokenized share class of its US Dollar Liquidity Fund.
- The fund is built on the XRP Ledger (XRPL) and has received approval from the Central Bank of Ireland.
- Eligible investors with digital wallets can access the tokenized fund.
- BNY Mellon remains the custodian for the fund's underlying assets.
- Komainu will provide digital asset custody, and Licuido will supply tokenization infrastructure.
Aviva Investors, the asset management arm of Aviva Plc, has launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger (XRPL) after securing approval from the Central Bank of Ireland. This move signifies a growing trend in tokenized real-world assets.
The new share class will be accessible to eligible investors who possess digital wallets. While the fund's underlying assets will continue to be held by custodian BNY Mellon, Komainu will manage digital asset custody, and Licuido will provide the necessary tokenization infrastructure. The US Dollar Liquidity Fund itself invests in high-grade, short-term US dollar-denominated debt securities and money market instruments.
Aviva Investors announced that the tokenized share class maintains the same investment objectives and liquidity profile as the conventional fund. This initiative follows Aviva Investors' earlier partnership with Ripple, whose XRP Ledger serves as the blockchain infrastructure for issuing and managing these tokenized shares. The launch positions Aviva's fund alongside other tokenized products on public blockchains, including Archax's tokenization of abrdn's US Dollar Liquidity Fund on XRPL, and broader efforts by asset managers like BlackRock, Franklin Templeton, and Apollo in the tokenized asset space.