Aviva tokenises £22bn sterling liquidity fund on XRPL

Aviva Investors, the asset management arm of Aviva plc, has launched a tokenised share class of its Sterling (GBP) Liquidity Fund on the XRP Ledger with Ripple, it said on Monday; at about £22 billion, it is the firm’s largest fund. Tokenised money market funds are a trend CryptoWatchDesk last covered on 23 Oct, when J.P. Morgan Asset Management brought its tokenized money market funds to Solana.

The headline number is the fund, but the on-chain number is much smaller. Aviva itself invested £50 million ($66 million) in the new share class, about 0.2% of the fund’s assets. Across this class and the dollar one launched in July, more than £86 million ($116 million) is now invested in tokenised form, the release says.

On that basis, Aviva Investors says it is now one of the largest providers of tokenised money market funds in Europe, citing data from rwa.xyz.

The fund is an Ireland-domiciled UCITS money market fund, first launched in 2002, that buys short-term sterling debt. Aviva uses a “digital twin” model: holdings are represented on-chain while the existing fund structure stays off-chain, with the same objective, risk profile and liquidity as the conventional shares.

Assets stay with the fund’s custodian, The Bank of New York Mellon. Komainu, a regulated digital asset custodian, and Licuido, a tokenisation platform, supported the launch, as they did for the dollar class. For the role each plays, see what a crypto custodian does.

The share class is open to eligible investors with digital wallets. On the XRP Ledger, a token with the ticker AGB shows 50,050,000 units outstanding, according to XRPL Dashboard. Its settings allow the issuer to authorise holders and claw back tokens.

“We believe tokenised funds can increase efficiency and ultimately lead to improved client outcomes,” said Mark Versey, chief executive of Aviva Investors.

In the US, Federated Hermes is preparing tokenized share classes with Prometheum. Aviva Investors managed £273 billion as of 30 June 2026.

This article is for information only and is not investment advice.