Aviva Seeds a £50 Million Tokenized Share Class of Its Fund on XRPL

Aviva Investors has put a tokenized share class of its Sterling Liquidity Fund, a money market fund with about £22 billion in assets, on the XRP Ledger. Aviva seeded it with £50 million ($66 million), the firm and Ripple said Monday.

It is Aviva's second fund to go on-chain, after a U.S. dollar fund in July. The two tokenized classes now hold more than £86 million ($116 million) combined, according to the Aviva announcement.

The fund itself stays off-chain

Aviva uses what it calls a "digital twin." The Ireland-based UCITS fund, launched in 2002, keeps running the usual way and buys short-term sterling debt. Investors' holdings are also recorded as tokens on XRPL. Bank of New York Mellon still holds the fund's assets, with digital asset custodian Komainu and tokenization platform Licuido supporting the launch.

The share class is open only to eligible investors with approved digital wallets. Aviva says it carries the same objective, risk profile and protections as the regular fund.

Ripple's Nigel Khakoo said markets "are moving to 24/7 access," in the Ripple release.

What the release leaves out

Aviva calls itself one of Europe's largest tokenized money market fund providers but gives no ranking data. Neither release lists the share class's fees or says how much came from outside investors beyond Aviva's own £50 million.

In our opinion: £50 million of house money is a start. The bigger story is whether outside investors follow it in.

Correction (Oct. 26, 2026, 9:12 p.m. ET): An earlier version of this headline said Aviva Investors tokenized its £22 billion Sterling Liquidity Fund. Aviva put a new tokenized share class of the fund, seeded with £50 million, on the XRP Ledger. The fund itself stays off-chain.