Aviva Investors Brings Tokenized USD Fund to XRP Ledger

Aviva Investors has launched its first tokenized fund in partnership with Ripple on the XRP Ledger. The new share class of Aviva's USD Liquidity Fund allows investors to buy and sell tokens representing ownership in the fund, providing daily liquidity and targeting low-risk returns. This marks the first time an Aviva Investors fund has been tokenized.

The launch follows a partnership between Aviva Investors and Ripple earlier this year to advance tokenization on the XRP Ledger. Ripple's crypto firm has partnered with European investment firms before, but this is its first collaboration to tokenize real-world assets at scale. The asset manager received approval from the Central Bank of Ireland for the launch.

The fund's custodian, BNY Mellon, will hold the assets for tokenized shares. Aviva Investors noted that the structure has been designed to operate within existing regulatory frameworks, providing a scalable foundation for future innovation in fund distribution and market infrastructure.