Aviva tokenizes its USD Liquidity Fund on the XRP Ledger with Ripple
What's the deal? AvivaDealroom has a profile for this one. Try Dealroom → Investors, the asset management arm of Aviva plc, has launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger in partnership with blockchain firm Ripple. It is the first time Aviva Investors has tokenized one of its funds.
The details: The fund, launched in traditional form in 2020, invests in high-grade US dollar short-term debt and targets low-risk returns with daily liquidity. Investors in the tokenized version get the same investment objective, risk profile, liquidity, and regulatory safeguards as the conventional fund, plus blockchain-based operational features.
The regulatory angle: The Central Bank of Ireland approved the tokenized share class, which Aviva described as a regulatory first. The Bank of New York Mellon retains custody of the underlying assets, Komainu provides institutional digital-asset custody, and Licuido supplies the tokenization infrastructure.
Why now? Ripple and Aviva Investors announced their partnership in February 2026, aiming to bring conventional fund structures onto the XRP Ledger. The plan was to cut operational costs and speed up processes using the ledger's low-fee transactions.
What's the endgame? Mark Versey, chief executive officer of Aviva Investors, called the launch the firm's first step into fund tokenization. "It is our view that this trend will increase efficiency and ultimately lead to improved client outcomes," he said, adding that the company plans to explore more tokenized fund structures.
What could go wrong? Access remains limited to eligible investors with compatible digital wallets under the framework approved by the Central Bank of Ireland. That restriction could slow practical adoption, even as the launch is framed as a milestone.
The signal: Nigel Khakoo, senior vice president of trading and markets at Ripple, said the XRP Ledger "was built for exactly this kind of application, and we expect this launch to set a strong precedent for other asset managers." A regulated tokenized fund from a major asset manager suggests tokenization is moving from pilots toward mainstream, compliant offerings.
Read more: The Crypto Times
