Aviva Investors Enters Blockchain Finance with XRP Ledger Tokenized Fund
Aviva Investors has launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger, marking the firm's first foray into asset tokenization and a significant deployment of a regulated institutional fund on a public blockchain.
The £253 billion ($345 billion) asset manager partnered with Ripple to bring this project to life, which uses a 'digital twin' model. The underlying fund remains unchanged, but an on-chain ownership layer is added to represent shares in the fund as tokens.
The partnership has received approval from the Central Bank of Ireland, demonstrating regulators' growing comfort with blockchain-based fund structures provided proper guardrails are in place.
Komainu provides regulated digital asset custody, while Licuido supplies the tokenization layer. This collaboration sets a precedent for institutional investors to explore faster settlement cycles through on-chain transactions.