LONDON — October 26, 2026 — Aviva Investors, the asset-management arm of UK insurer Aviva, launched a tokenized share class of its £22 billion (approximately $29 billion) Sterling Liquidity Fund on the XRP Ledger in partnership with Ripple. Aviva itself invested £50 million ($66 million) in the new class.

The structure uses a “digital twin” model. Investor holdings are represented on-chain on the XRP Ledger, while the underlying Ireland-domiciled UCITS money-market fund continues to operate off-chain. Assets remain held by the existing custodian, The Bank of New York Mellon. Investors in the tokenized share class receive the same investment objective, risk profile, liquidity characteristics, and regulatory protections as holders of the conventional fund, which was first launched in 2002. The fund invests in high-grade, sterling-denominated short-term debt instruments and offers daily liquidity.

This is Aviva Investors’ second tokenized money-market offering on XRPL. It follows a tokenized share class of its USD Liquidity Fund launched in July 2026, which received approval from the Central Bank of Ireland. Combined investment across the two tokenized share classes now exceeds £86 million ($116 million). The new launch positions Aviva among Europe’s larger providers of tokenized money-market funds and expands institutional access to the existing product through blockchain rails. Eligible investors with digital wallets can access the tokenized class; Komainu provided regulated digital-asset custody support and Licuido supplied tokenization infrastructure.

Significance
The £22 billion figure refers to the total assets of the Sterling Liquidity Fund across all share classes, not the amount newly placed on-chain. Tokenization creates a digital access layer and ownership record rather than migrating the underlying portfolio onto the ledger. The approach preserves the regulated fund structure while adding on-chain representation, settlement features, and potential operational efficiencies.

Outlook
The launch extends Aviva’s partnership with Ripple, first announced earlier in 2026, and demonstrates growing institutional use of public blockchain infrastructure for regulated fund products. Tokenized money-market funds continue to serve as an early adoption path for real-world asset tokenization, particularly where daily liquidity and collateral use cases are relevant. Aviva Investors CEO Mark Versey has said tokenized funds can increase efficiency and improve client outcomes. Further growth will depend on investor uptake beyond the firm’s own seed investment and broader market development of on-chain fund distribution.