Aviva Investors, the asset management arm of UK insurance giant Aviva PLC, has launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger. The move, announced on July 29, represents the firm’s first venture into asset tokenization and one of the most significant deployments of a regulated institutional fund on a public blockchain to date.
With roughly £253 billion, or approximately $345 billion, in assets under management, Aviva Investors isn’t some boutique experiment shop testing the waters. This is a major institutional player making a deliberate bet that blockchain infrastructure belongs in the plumbing of traditional finance.
How the tokenized fund actually works
The structure uses what’s called a “digital twin” model. The underlying fund, an Ireland-domiciled UCITS money market fund, stays exactly as it is. Nothing changes about how the fund itself operates or invests. What gets added is an on-chain ownership layer on the XRP Ledger that represents shares in the fund as tokens.
The project brings together a consortium of specialized partners. Ripple provides the blockchain support and XRPL infrastructure. Komainu handles regulated digital asset custody. Licuido supplies the tokenization layer itself, the technology that actually creates and manages the on-chain tokens.
