Aviva Investors launches tokenized fund after Central Bank of Ireland approval

The new XRPL-based share class gives eligible investors blockchain-based access to a regulated US dollar liquidity fund while keeping traditional custody arrangements.

Aviva Investors, the London-based asset management arm of Aviva Plc, has launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger (XRPL) after receiving approval from the Central Bank of Ireland, marking another step in the growth of tokenized real-world assets.

The company announced that the tokenized share class will be available to eligible investors with digital wallets. The fund’s underlying assets will continue to be held by custodian BNY Mellon, while Komainu will provide digital asset custody and Licuido will supply the tokenization infrastructure.

The US Dollar Liquidity Fund invests in high-grade, short-term US dollar-denominated debt securities and money market instruments issued by governments, banks and corporations. According to Aviva, the tokenized share class offers the same investment objective and liquidity profile as the conventional fund.

The launch follows Aviva Investors’ partnership tie-up with Ripple, announced earlier this year. Ripple’s XRP Ledger provides the blockchain infrastructure for issuing and managing the tokenized shares.

Aviva’s fund joins a growing list of tokenized investment products on public blockchains. On XRPL, it follows Archax’s tokenization of UK asset manager abrdn’s US Dollar Liquidity Fund in 2024. More broadly, traditional asset managers including BlackRock, Franklin Templeton and Apollo have also launched tokenized funds as demand for blockchain-based financial products continues to expand.

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