Aviva Investors has introduced a tokenized share class of its £22 billion Sterling Liquidity Fund on the XRP Ledger, expanding its use of blockchain infrastructure in traditional asset management.
The move was reported on October 26 by Financial News. It follows the asset manager’s launch of a tokenized share class for its US Dollar Liquidity Fund in July.
The £22 billion figure refers to the size of the Sterling Liquidity Fund as a whole. It does not mean £22 billion worth of fund shares has been tokenized. The two tokenized share classes together hold more than £86 million in investments, according to the report.
Aviva expands beyond its first XRP Ledger fund
Aviva Investors confirmed the launch of its first tokenized share class on July 29. That product gives eligible investors access to the existing US Dollar Liquidity Fund through digital tokens issued on the XRP Ledger.
The new sterling share class extends that model to a larger fund denominated in British pounds. Tokenization represents ownership in a fund through a digital record. It does not turn the underlying portfolio into cryptocurrency or automatically make every share available on a blockchain.
The October 26 report identified Komainu as the institutional digital-asset custody partner and Licuido as the tokenization infrastructure provider. BNY serves as fund custodian. The same technology and custody firms supported the earlier dollar-fund rollout, Aviva’s July announcement said.
Why the asset manager is extending tokenization
Alastair Sewell, a senior investment director at Aviva Investors, told Financial News that growing inquiries from institutional investors helped accelerate work on tokenized products. The firm began exploring the approach in 2024, according to the report.
Fund tokenization may help managers distribute and service investment products through digital infrastructure. Potential uses include digital custody and record-keeping, although the practical benefits depend on each product’s legal structure and transfer restrictions.
Aviva’s liquidity fund materials describe tokenized accounts on the XRP Ledger as a way to provide a more digital investment experience. The company has not independently published an October 26 announcement for the new sterling share class in the materials reviewed for this report; the specific launch details are attributed to Financial News.
What it means for XRP Ledger adoption
In related institutional coverage, BlockBriefing reported on Franklin Templeton’s tokenized fund shares on the XRP Ledger. That is a separate fund and should not be included in Aviva’s reported figures.
Aviva’s expansion adds another institutional use case for the XRP Ledger, following its partnership with Ripple earlier in 2026. Ripple announced that partnership in February.
However, using the network to record fund shares does not establish how much XRP the product will consume, nor does it guarantee an effect on XRP’s market price. The reported development is mainly about fund infrastructure and institutional distribution.
Editor’s note: The fund’s £22 billion size and the reported £86 million invested across tokenized share classes are different measures. This report is informational and is not investment advice.
