Aviva Launches Tokenized US Dollar Liquidity Fund on XRP Ledger
Aviva Investors has launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger (XRPL), following approval from the Central Bank of Ireland. This move marks another step in the growth of tokenized real-world assets, with Aviva's fund joining a growing list of tokenized investment products on public blockchains.
The company announced that the tokenized share class will be available to eligible investors with digital wallets, offering the same investment objective and liquidity profile as the conventional fund. The US Dollar Liquidity Fund invests in high-grade, short-term US dollar-denominated debt securities and money market instruments issued by governments, banks, and corporations.
The launch follows Aviva Investors' partnership tie-up with Ripple, announced earlier this year. Ripple's XRP Ledger provides the blockchain infrastructure for issuing and managing the tokenized shares, while Komainu will provide digital asset custody and Licuido will supply the tokenization infrastructure.