Aviva Investors Debuts First Tokenized Fund Class on XRPL
Aviva Investors has launched its first tokenized fund share class on the XRP Ledger (XRPL) in collaboration with Ripple, using regulated digital-asset custody and a system that reconciles on-chain and traditional records every day.
In the latest XRP development, Aviva Investors, the asset management business of Aviva plc, has issued a tokenized share class for its US Dollar Liquidity Fund on XRPL. Ripple is supporting the initiative, while the structure has been approved by the Central Bank of Ireland, according to reports from Ledger Insights and Structured Retail Products.
The launch represents the execution of a partnership first revealed by Aviva Investors and Ripple on February 11, 2026. It marks Aviva Investors’ first move into tokenized funds and adds to Ripple’s growing list of collaborations with European asset managers.
The announcement arrives as XRP has gained 1.3% over the past 24 hours. Even with that increase, the cryptocurrency remains close to its 18-month support near $1. XRP is currently priced at $1.02, while its 24-hour trading volume stands at about $1.26 billion.
XRP News: Inside Aviva’s Tokenized Share Class
The new share class has been added to Aviva Investors’ existing US Dollar Liquidity Fund, a European UCITS money market fund. The fund’s other share classes collectively manage approximately $1.23 billion in assets, according to Ledger Insights.
Investors in the tokenized class must meet a minimum investment requirement. The blockchain-based version functions as a digital counterpart to the traditional fund register, with the two records reconciled daily. It is therefore not structured as a freely transferable blockchain asset.
Structured Retail Products reported that access to the tokens is limited to eligible investors who have digital wallets, while transfers are restricted.
Komainu has been selected as the regulated institutional digital-asset custodian for the tokenized component. Bank of New York Mellon continues to safeguard the underlying fund assets, while Licuido supplies the technology infrastructure behind the tokenization.
The investment strategy itself has not changed. The fund continues to hold high-quality, short-term US dollar debt instruments. XRP is not part of the portfolio, meaning investors are not receiving XRP exposure through the fund. Instead, XRPL is being used to issue and maintain records associated with the tokenized share class.
February Partnership Led to the Launch
Aviva Investors and Ripple announced their partnership in February, describing the project as a longer-term initiative to introduce tokenized funds on XRPL during 2026 and beyond.
Jill Barber, Chief Distribution Officer at Aviva Investors, said the firm was pleased to work with Ripple and highlighted tokenization’s potential to improve efficiency, particularly by reducing time and costs. She also pointed to the potential benefits tokenized funds could offer clients.
Nigel Khakoo, Ripple’s Vice President of Trading and Markets, said the industry was moving beyond experimentation toward large-scale tokenization. He highlighted XRPL’s compliance features, fast settlement and native liquidity as important infrastructure for institutional financial assets.
At the time of the partnership announcement, Ripple said XRPL had processed more than 4 billion transactions since 2012. The network had also recorded more than 7 million active wallets and was supported by 120 independent validators.
Aviva Adds to XRPL’s Institutional Tokenization Drive
The Aviva Investors launch reflects a broader trend of financial institutions using XRPL as infrastructure for issuing and settling regulated tokenized products, rather than using the network primarily to provide exposure to XRP.
Ripple has backed infrastructure providers including ZILO and Licuido, which are developing services covering custody, transfer agency and trading around XRPL.
The push comes as tokenized real-world assets on XRPL continue to expand, with the network’s tokenized RWA value reportedly exceeding $3 billion.
Aviva’s decision to restrict transfers and reconcile the tokenized records with the traditional register each day suggests a measured approach to fund tokenization. More flexible transferability and 24/7 asset movement could come later as the regulatory framework and operational experience surrounding tokenized funds mature.
