Aviva Investors has launched a tokenized share class of its £22 billion Sterling Liquidity Fund on the XRP Ledger, expanding the asset manager's tokenized fund range after the debut of its tokenized US dollar fund in July 2026. The launch was announced with Ripple and preserves the fund's existing structure and investor protections, with the new class retaining the conventional fund's investment objectives, risk profile, liquidity features and regulatory safeguards.

Tokenized Sterling Fund Opens to Eligible Investors

The Sterling Liquidity Fund is Aviva Investors' largest fund. First launched in 2002, it is an Ireland-domiciled UCITS money market fund that targets low-risk returns and daily liquidity through investment in short-term, high-grade UK sterling debt instruments.

According to the announcement, the new share class uses a "digital twin" model, meaning fund holdings are represented on a blockchain while the existing off-chain fund structure remains in place. Eligible investors holding digital wallets can access the tokenized share class. Because the tokenized class sits alongside the conventional fund rather than replacing it, wallet holders gain blockchain-based access to the same fund while the custodial and regulatory arrangements behind it stay unchanged.

The Bank of New York Mellon holds the fund's assets as custodian. Regulated institutional digital asset custodian Komainu and infrastructure platform Licuido also supported the launch.

Aviva Commits £50 Million to New Share Class

Aviva Investors has invested £50 million in the new tokenized sterling share class, a fraction of the fund's £22 billion in total assets. Across its sterling and dollar tokenized offerings, more than £86 million, or approximately $116 million, has now been invested.

The sterling launch marks the company's second fund tokenization. Following the July launch of its tokenized USD Liquidity Fund, Aviva Investors said it now ranks among Europe's largest providers of tokenized money market funds, a segment in which asset managers issue blockchain-based versions of traditional money market funds.

Mark Versey, CEO of Aviva Investors, said the company plans to continue exploring tokenization with Ripple. He added that tokenized funds could improve efficiency and client outcomes.

Ripple Supports Issuance on XRP Ledger

Nigel Khakoo, Ripple's senior vice president of trading and markets, said the launch demonstrates how institutions can use blockchain technology for continuous market access and settlement.

According to the announcement, the XRP Ledger supports the issuance and management of the tokenized fund through blockchain transactions. Since 2012, the network has processed more than 4 billion transactions, supports nearly 8 million active wallets and relies on more than 130 independent validators.