Aviva Investors Tokenized Fund Adds Sterling Liquidity Share Class on XRP Ledger

Aviva Investors launched a tokenized share class for its £22 billion Sterling Liquidity Fund on the XRP Ledger on 26 October 2026. The move follows the firm's first tokenized offering in July 2026 and brings combined tokenized assets above £86 million. The new class gives eligible investors on-chain access while the underlying UCITS money market fund stays unchanged.

Launch Details and Structure of the Aviva Investors Tokenized Fund

The Sterling Liquidity Fund invests in high-grade sterling short-term debt and has offered daily liquidity since its launch in 2002. Aviva Investors seeded the tokenized share class with £50 million. Tokenized shares function as a digital twin on the XRP Ledger, allowing qualified investors with digital wallets to hold and transfer positions on-chain. The underlying portfolio, investment objective, risk profile and regulatory status remain identical to the off-chain fund.

Custody of the fund assets stays with BNY Mellon. Komainu handles regulated digital asset custody and Licuido supplies the tokenization infrastructure. The structure preserves all existing investor protections and does not alter redemption processes or settlement finality for the core holdings. Investors must meet eligibility criteria to access the tokenized class.

Aviva Investors CEO Mark Versey stated the expansion demonstrates the firm's commitment to tokenization and that the Ripple partnership supports greater operational efficiency. Ripple's Nigel Khakoo noted that the launch shows real-time settlement rails in a regulated money market setting. The tokenized class is now live for qualified investors.

Background and Context for the Aviva Investors Tokenized Fund

Aviva Investors first partnered with Ripple in February 2026 to examine how traditional funds could operate on the XRP Ledger. The Sterling Liquidity Fund is the company's largest and forms the second tokenized share class after the USD Liquidity Fund. Together the two classes exceed £86 million in assets. The firm now ranks among the larger tokenized money market fund providers in Europe.

Tokenization in this case does not change the fund's regulatory classification or the nature of the assets held. The Ireland-domiciled UCITS framework continues to apply, and daily liquidity features remain intact. The model separates the on-chain representation from the off-chain custody and portfolio management, which reduces the need to alter existing operational or compliance procedures.

Market participants have watched similar pilots from other asset managers, yet few have reached the scale of the Aviva Investors offering. The £22 billion size of the Sterling Liquidity Fund provides a substantial base for testing tokenized distribution without requiring a new vehicle. Official announcements emphasize that the structure is intended as a scalable platform rather than a one-off test.

Next Steps for Eligible Investors

The tokenized share class is available immediately to qualified investors who maintain compatible digital wallets. No further launch dates or additional tokenized classes have been confirmed in the current announcements. Aviva Investors has described the current setup as a foundation for future work on fund distribution and market infrastructure.

Institutions evaluating tokenized money market products can compare the unchanged risk and liquidity profile of the Sterling Liquidity Fund against the added on-chain transfer capability. The partnership with Ripple supplies the settlement layer while traditional custody and regulatory oversight continue through established channels. Investors should review eligibility requirements and wallet compatibility directly with Aviva Investors or their advisers.