Aviva Investors brings $29B sterling fund to XRP Ledger via tokenization

Aviva Investors has introduced a tokenized share class for its Sterling Liquidity Fund utilizing the XRP Ledger. This marks the company’s second tokenized fund and represents a significant milestone for the tokenization of real-world assets.

TLDR

• Aviva Investors has introduced a tokenized share class for its Sterling (GBP) Liquidity Fund on the Ripple XRP Ledger (XRPL).
• Representing the asset manager’s largest fund, it commands approximately £22 billion ($29.4 billion) in assets under management.
• This serves as Aviva’s second tokenized fund, coming on the heels of the USD Liquidity Fund’s expansion onto the XRPL in July.
• Combined investments across both tokenized share classes total roughly £86 million, which includes a £50 million direct investment from Aviva.

As the asset management division of the UK insurer Aviva, Aviva Investors has broadened its presence on-chain by introducing a tokenized share class for its Sterling (GBP) Liquidity Fund on the XRP Ledger (XRPL), granting investors access to the fund via tokenized formats.

The development was officially announced by Ripple and Aviva in a joint statement on Monday. Managing roughly £22 billion ($29.4 billion), the Sterling Liquidity Fund stands as Aviva’s largest fund.

Aviva Adds a Second Tokenized Fund

The Sterling fund arrives subsequent to the July introduction of Aviva’s USD Liquidity Fund on the XRPL. Combined, these two tokenized share classes account for approximately £86 million in investments.

According to Aviva, this achievement establishes the firm as one of Europe’s top providers of tokenized money market funds. Furthermore, the company contributed a personal investment of £50 million into the new Sterling share class.

Ripple Partnership Targets More Tokenized Funds

This rollout is an element of an expansive partnership between Aviva and Ripple. Both entities indicated intentions to introduce additional tokenized funds to the XRP Ledger, signaling continued growth past the initial two liquidity funds.

XRPL’s Position in the RWA Market

Data from RWA.xyz shows that the XRP Ledger ranks as the ninth-largest blockchain network dedicated to tokenized assets. It maintains $642 million in distributed real-world asset value distributed among approximately 2,900 distinct holders.

Institutional deployments such as Aviva’s initiative have the potential to elevate XRPL’s standing as additional traditional asset managers transition money market products onto the blockchain.