Aviva Investors has launched a tokenized share class for its sterling liquidity fund on the XRP Ledger, seeding the new class with £50 million ($66 million). It is the asset manager's second tokenized money-market offering, following the July 2026 listing of a tokenized class for its US dollar Liquidity Fund. According to an Aviva Investors announcement dated October 26, 2026, Ripple is serving as the blockchain partner on the deal.

The tokenized units sit on the existing Ireland UCITS Sterling Liquidity Fund, which holds roughly £22 billion in assets. The fund's objective, risk profile, and daily liquidity remain unchanged. The difference is that ownership can now be held in a digital wallet as a digital twin of the conventional holding. BNY Mellon continues to hold the fund's assets.

How the Digital Twin Model Works

Under the digital twin structure, on-chain records show who owns the tokenized units, while the conventional fund remains off-chain. This preserves the fund's UCITS protections while giving eligible investors an additional wallet-based route into the product.

Aviva Investors committed £50 million to the new sterling class. Across both of its tokenized classes, the firm now reports more than £86 million ($116 million) invested. That stake is large relative to the new class itself — in effect, the manager seeded the launch as much as outside wallets did.

Chief Executive Mark Versey described the launch as groundwork for a wider tokenized lineup, adding that the partnership with Ripple remains central to that plan. Nigel Khakoo, Ripple's senior vice president for trading and markets, said fund settlement is moving toward always-on rails.

Ripple, Komainu, Licuido, and BNY Mellon

Ripple supplies the XRP Ledger stack for the tokenized units. Komainu, a regulated digital-asset custodian, supports the digital access layer, as does Licuido, identified in the release as a tokenization firm. BNY Mellon retains custody of the fund's assets.

Aviva Investors also cited network statistics for the XRP Ledger: more than 4 billion transactions processed since 2012, nearly 8 million active wallets, and more than 130 validators. These figures reflect the network's throughput and cost profile, though they do not by themselves demonstrate demand for the sterling class.

What the £50 Million Commitment Does Not Change

Tokenization in this structure serves as an access layer rather than a new portfolio. The fund continues to target low-risk sterling money-market exposure through high-grade short-term UK debt, a mandate it has run since 2002. Buyers are eligible investors with digital wallets; the announcement does not describe open retail access.

Aviva Investors also describes itself as one of Europe's largest providers of tokenized money-market funds, a claim resting on the combined £86 million figure and tallies from RWA.xyz. That amount remains small next to the £22 billion parent fund. The key signal to watch is whether outside investors add real flows beyond Aviva's £50 million seed. A third tokenized class with named external assets under management would likewise strengthen the case.