Aviva Launches Tokenized Share Class for £22B Sterling Fund on XRP Ledger
Aviva Investors has launched a tokenized share class for its £22 billion Sterling Liquidity Fund on the XRP Ledger, expanding its tokenized fund lineup after the July 2026 launch of a tokenized USD Liquidity Fund. Announced with Ripple on Oct. 26, 2026, the share class retains the same investment objectives, risk profile, liquidity features and regulatory protections as the conventional fund.
The Sterling Liquidity Fund is the largest fund at Aviva Investors by assets, with about £22 billion under management, and was first launched in 2002. It is an Ireland-domiciled UCITS money market fund targeting low-risk returns and daily liquidity through short-term, high-grade UK sterling debt instruments.
The new share class uses a digital twin model. Fund holdings are represented on a blockchain while the existing off-chain fund structure remains in place. Eligible investors with digital wallets can access the tokenized share class. BNY Mellon is custodian for the fund assets, while regulated institutional digital asset custodian Komainu and infrastructure platform Licuido supported the launch.
Aviva Investors has committed £50 million to the new tokenized sterling share class. Across its sterling and dollar tokenized offerings, more than £86 million, or roughly $116 million, has been invested. The sterling launch means the company has now tokenized a second fund.
After the July launch of its tokenized USD Liquidity Fund, Aviva Investors said it now ranks among the largest providers of tokenized money market funds in Europe. CEO Mark Versey said the company plans to keep exploring tokenization with Ripple and that tokenized funds could improve efficiency and client outcomes.
Nigel Khakoo, senior vice president of trading and markets at Ripple, said the launch shows how institutions can use blockchain for continuous market access and settlement. According to the announcement, the XRP Ledger supports issuance and management of the tokenized fund through blockchain transactions. Since 2012, the network has processed more than 4 billion transactions, supports nearly 8 million active wallets and relies on more than 130 independent validators.
