Aviva Investors has launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger, moving its Ripple partnership into production.
Summary
- Aviva Investors has launched its initial token wallet structure in the XRP Ledger.
- The fund held by Ireland was accepted Authorization of the Central Bank of Ireland with its new sharing section.
- Eligible investors can access the fund through digital wallets BNY Mellon owns the underlying assets.
- XRP Ledger hosts approx $4.37 billion in distributed and represented real world assets.
Aviva brings its USD liquidity fund to XRPL
Aviva Investors and Ripple announced the launch on July 29, following the token partnership revealed in February. The product is a new share class for Aviva Investors US Dollar Liquidity Fund, an Irish-domiciled UCITS money market fund that launched in its regular form in 2020.
Companies use a “digital twin” structure. Funds accounted for in the fund are represented in the XRP Ledger, while the existing off-chain fund and its regulatory framework remain.
Eligible investors with authorized digital wallets will receive the same investment objective, risk profile, liquidity terms and legal protection available with the common share class, according to the launch announcement.
Mark Versey, CEO of Aviva Investors, described the launch as the asset manager’s first step into token investment.
“It is our belief that this practice will increase efficiency and ultimately lead to improved outcomes for clients.”
The Central Bank of Ireland has approved the token sharing phase
The Central Bank of Ireland has approved a new share class, which allows the product to operate within the existing managed fund structure.
Aviva said the fund aims to provide low risk returns and daily liquidity through short-term debt instruments denominated in US dollars. BNY Mellon will continue to manage the fund’s underlying assets, separating the managed custody from the blockchain record that represents investor holdings.
Komainu, a regulated digital asset custodian, supported the blockchain infrastructure, while Licuido provided the wallet tokenization technology. The structure allows Aviva to issue and manage fund shares on XRPL without moving the underlying securities directly to the network.
For US investors, the dollar denomination of the fund does not automatically make it available in the United States. Access remains limited to eligible investors and is subject to local securities laws, distribution approvals and Aviva’s onboarding requirements. The announcement did not indicate a US retail offer or approval from the Securities and Exchange Commission.
Ripple is expanding its institutional product strategy
The launch turns Ripple’s first partnership with a European investment manager into a live product. When the firms announced their agreement in February, they said they intended to work together through 2026 and beyond to bring regulated currencies to XRPL.
Ripple is also expanding other parts of its institutional infrastructure. Last week, the company launched Ripple Mint, providing authorized customers with a direct channel to withdraw, redeem, bridge and track its Ripple USD stablecoin.
Ripple has invested separately in regulatory compliance company Notabene, which operates a payment and transaction network for regulated businesses. Together, the revisions to the token’s address, distribution and compatibility rather than relying on a single blockchain product.
SBI Holdings, a long-time Ripple partner, is also increasing its blockchain exposure. The Japanese financial group recently rebranded SBI Security Solutions as SBI Digital Practice and repositioned the company as a subsidiary of Canton Network. The move extends SBI’s on-chain institutional strategy beyond Ripple and XRPL.
XRP Ledger holds $4.37B in token assets
The Aviva Fund joins the growing group of tokenized financial products represented on the XRPL.
RWA.xyz data showed $313.3 million in assets distributed and $4.06 billion in assets represented on the network as of July 29. Together, those categories have made the value of real-world assets tracked by XRPL around $4.37 billion.
The number of RWA holders increased by 17.42% during the last 30 days to 182. However, the amount of assets distributed decreased by 5.24%, while the amount represented decreased by 0.47% in the same period.
XRPL also held $952.25 million in stablecoins, including about $907.2 million attributed to RLUSD. Adding stablecoins to RWA’s distributed and network-represented figures would put the total tracked total at more than $5.3 billion, although RWA.xyz counts the categories separately.
Aviva and Ripple did not disclose the initial number of shares issued in the token class. Future growth will depend on investor participation and whether Aviva expands the model to other funds under the partnership.
