Aviva’s £22B Fund Goes Digital, Giving XRP Ledger a Sterling Debut

Aviva Investors, the asset management arm of UK-based insurer Aviva, launched a tokenized share class of its approximately £22 billion Sterling Liquidity Fund on the XRP Ledger (XRPL), Ripple and Aviva said in a joint announcement on Monday. The fund, founded in 2002, holds $29.4 billion in assets under management and aims to offer low-risk returns and daily liquidity.

The new class allows qualified investors to buy and sell shares via digital wallets. Aviva’s digital-twin model stores fund shares on the XRP Ledger while keeping corresponding assets off-chain, leaving the existing structure and management of underlying investments unchanged. Aviva said the setup maintains the fund’s investment goals, risk profile and investor protection measures, while the new class gives Aviva exposure to high-quality short-term sterling-denominated debt instruments.

Aviva invested £50m in the offering, taking its combined investments across the Sterling and USD tokenized share classes to about £86 million. The launch follows July’s tokenization of the USD Liquidity Fund and is the asset manager’s second tokenized fund. Aviva and Ripple established their partnership in February as part of a broader effort to bring more tokenized funds to the XRP Ledger; Aviva said the activity makes it one of Europe’s largest asset management providers of tokenized money market funds.

According to RWA.xyz, the XRP Ledger ranks as the ninth-largest blockchain network for tokenized assets, with $642 million in total distributed real-world asset value and about 2,900 unique holders.