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Aviva Investors has launched its first tokenized fund share class after receiving approval from the Central Bank of Ireland, bringing its U.S. dollar liquidity fund onto the XRP Ledger.
The new share class gives eligible investors a blockchain-based representation of shares in the existing regulated money market fund while retaining the fund’s investment objective and daily liquidity structure.
$1.23B Liquidity Fund Adds Tokenized Shares on XRP Ledger
The tokenized share class belongs to the Aviva Investors US Dollar Liquidity Fund, an Irish UCITS money market fund launched in 2020. Its conventional share classes hold about $1.23 billion in assets.
The fund invests in high-grade, short-term U.S. dollar debt and provides daily liquidity. The tokenized class requires a minimum investment of £1 million and is available to eligible investors with digital wallets.
Ripple provides blockchain infrastructure through the XRP Ledger. Komainu supplies institutional digital asset custody, Licuido provides the tokenization technology, and BNY continues to hold the fund’s underlying assets.
Tokens Represent Existing Shares But Cannot Be Transferred
Each blockchain token represents a corresponding conventional fund share, with the two records reconciled daily. Tokens are created when shares are issued and destroyed when they are redeemed.
The tokens cannot currently be transferred independently between investors. The structure therefore provides blockchain-based representation of an existing regulated fund holding without changing the underlying portfolio.
February Ripple Partnership Delivers Aviva’s First Tokenized Fund
Aviva Investors announced its tokenization partnership with Ripple in February, when the companies said they planned to bring traditional fund structures onto the XRP Ledger during 2026.
The Irish approval has now resulted in Aviva’s first live tokenized fund share class within an existing UCITS structure.
Aviva and Ripple have said they plan to continue exploring additional tokenized fund structures following the initial launch.
