LONDON — Aviva Investors, the asset management division of UK-based insurer Aviva, has launched a tokenized share class of its Sterling (GBP) Liquidity Fund on the XRP Ledger (XRPL).
According to a joint announcement by Ripple and Aviva on Monday, the development adds a tokenized share class of the company's largest fund, which holds approximately 22 billion British pounds ($29.4 billion) in assets under management. The move enables investments in the fund to be made in a tokenized format.
This initiative represents Aviva's second tokenized fund. The asset manager previously expanded its USD Liquidity Fund to the XRPL network in July.
Aviva stated that these offerings establish the firm as one of Europe's largest asset management providers of tokenized money market funds, with roughly 86 million pounds invested across its two tokenized share class offerings. As part of the launch, Aviva made a 50-million-pound investment in the Sterling Liquidity Fund's new tokenized share class.
The expansion is part of a broader collaboration between Aviva and Ripple aimed at bringing additional tokenized funds to the XRP Ledger. Data from RWA.xyz indicates that the XRP Ledger currently ranks as the ninth-largest blockchain network for tokenized assets, holding $642 million in total distributed real-world asset value alongside approximately 2,900 unique holders.
