Aviva Fund Debuts on the XRPL

Aviva Investors has launched a tokenised share class of the Aviva Investors USD Liquidity Fund. The product operates on the XRP Ledger and is available to eligible institutional investors. Its launch was approved by the Central Bank of Ireland.

The new share class retains the same investment objective, risk profile, liquidity and investor protections as the traditional fund. Blockchain technology is used to issue and manage the fund units.

Investors can hold the units in digital wallets, while the fund’s assets remain with its existing depositary. Komainu provides custody services for the tokenised units, while Licuido supplies the infrastructure used to issue and manage them.

Aviva Investors and Ripple announced the product’s launch on 30 July. It is the result of a partnership established in February and marks Aviva Investors’ first tokenised fund. It is also Ripple’s first collaboration with a European asset management firm.

The project is the first stage of a broader plan. The companies intend to launch further regulated funds on the XRPL in 2026 and beyond.

The fund operates within Ireland’s UCITS framework. According to Aviva, the Central Bank of Ireland’s approval is the first of its kind for a tokenised fund structure. Regulatory oversight covers governance, asset custody and investor protection.

The XRPL has processed more than 4 billion transactions, supports nearly 8 million active wallets and relies on over 130 independent validators. The network previously welcomed a tokenised money market fund from abrdn, launched through the Archax platform.