Aviva Investors Launches First Tokenized Fund Class on XRPL

Aviva Investors Brings First Tokenized Fund Class to XRPL

Aviva Investors has introduced its first tokenized fund share class on the XRP Ledger (XRPL) in partnership with Ripple, supported by regulated custody arrangements and daily reconciliation.

In the latest XRP news, Aviva Investors, the asset management division of Aviva plc, has launched a tokenized share class for its US Dollar Liquidity Fund on XRPL with Ripple. The structure was approved by the Central Bank of Ireland, according to reports from Ledger Insights and Structured Retail Products.

The launch represents more than a trial run. It follows through on the partnership announced by Aviva Investors and Ripple on February 11, 2026, marking the asset manager’s first entry into fund tokenization and one of Ripple’s early partnerships with a European investment firm.

The announcement comes as XRP USD has risen 1.3% over the past 24 hours. Despite the gain, the token remains only slightly above its 18-month support around $1. XRP is currently trading at $1.02, with roughly $1.26 billion in daily trading volume.

XRP News: How Aviva’s Tokenized Fund Class Works

According to Ledger Insights, 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 around $1.23 billion in assets.

The tokenized class has a minimum investment requirement and essentially acts as a digital representation of the traditional fund register. The blockchain-based tokens correspond to entries in the conventional book-entry system, with the records reconciled each day instead of allowing the tokens to operate as separately transferable assets.

Structured Retail Products said the tokens cannot be freely transferred and are restricted to eligible investors with digital wallets.

Komainu will provide regulated institutional digital-asset custody for the tokenized portion, while Bank of New York Mellon remains the custodian of the underlying fund assets. Licuido is providing the technology infrastructure supporting the tokenization process.

The fund’s underlying portfolio remains focused on conventional, high-quality short-term US dollar debt. XRP is not included among the fund’s underlying assets. Instead, XRPL serves as the platform for issuing and maintaining records of the tokenized interests rather than providing direct XRP investment exposure.

The Central Bank of Ireland’s approval provides the regulatory foundation for the tokenized fund structure.

Aviva Investors and Ripple’s February Partnership

Aviva Investors and Ripple first announced their collaboration on February 11, 2026. The two companies described the initiative as a long-term project focused on bringing tokenized funds to XRPL throughout 2026 and beyond.

Jill Barber, Chief Distribution Officer at Aviva Investors, welcomed the partnership with Ripple and said tokenization could improve both time and cost efficiency. She also highlighted the potential benefits tokenized funds could provide to clients.

Nigel Khakoo, Ripple’s Vice President of Trading and Markets, said tokenization was shifting from experimentation toward large-scale production. He pointed to XRPL’s built-in compliance capabilities, rapid settlement and native liquidity as features that make the network suitable for institutional assets.

When the partnership was announced, Ripple said XRPL had processed more than 4 billion transactions since 2012. The network also had more than 7 million active wallets and was supported by 120 independent validators.

Aviva’s Role in XRPL’s Institutional Expansion

(SOURCE: DeFiLlama)

The Aviva launch adds to the growing use of XRPL as an issuance and settlement network for regulated financial products, rather than primarily as a vehicle for direct XRP exposure.

Ripple has supported infrastructure providers such as ZILO and Licuido as they develop custody, transfer-agency and trading solutions connected to XRPL.

That infrastructure development comes as tokenized real-world assets continue expanding on the network. The value of tokenized RWAs on XRPL has now exceeded $3 billion, according to reports on the network’s growing tokenization ecosystem.

Aviva’s decision to make the tokens non-transferable and reconcile them with the traditional register each day appears to represent a cautious initial approach. Greater asset mobility and around-the-clock transferability could potentially be introduced in future iterations after the model establishes a stronger regulatory and operational track record.

About The Author