Aviva Investors Brings $29B Sterling Fund to XRP Ledger Through Tokenized Shares
The latest initiative represents Aviva's second tokenized fund offering, forming part of an extensive partnership aimed at expanding tokenized fund availability on the XRP Ledger.
The asset management division of UK insurer Aviva, known as Aviva Investors, has introduced a tokenized share class for its Sterling (GBP) Liquidity Fund on the XRP Ledger (XRPL).
This latest advancement brings a tokenized share class of the firm's most substantial fund, which manages roughly 22 billion British pounds ($29.4 billion) in assets, to XRPL and enables investors to access the fund through a tokenized format, as disclosed in a joint statement released by Ripple and Aviva on Monday.
This represents the second tokenized fund offering from the asset manager, following Aviva's decision to extend its USD Liquidity Fund to the XRPL network in July earlier this year.
According to Aviva, this positions the company among Europe's leading asset management firms providing tokenized money market funds, with approximately 86 million pounds allocated across both of its tokenized share class products.
The announcement revealed that Aviva committed a 50-million-pound investment into the newly created tokenized share class of the Sterling Liquidity Fund. This expansion represents a component of a more comprehensive partnership between Aviva and Ripple, with the goal of introducing additional tokenized funds to the XRP Ledger.
Based on data from RWA.xyz, the XRP Ledger holds the position of ninth-largest blockchain network in terms of tokenized assets, featuring $642 million in total distributed real-world asset value and approximately 2,900 unique holders.