According to The Block, Aviva Investors, the asset management arm of UK insurer Aviva, has partnered with Ripple to launch a tokenized share class of its £22 billion ($29.4 billion) Sterling Liquidity Fund on the XRP Ledger. As announced on Monday, Aviva has invested £50 million ($66.7 million) in the new share class. The company currently has over £86 million ($114.8 million) invested across its two tokenized money market fund products, including the dollar liquidity share class launched in July.
The Sterling Liquidity Fund, established in 2002, invests in high-grade, sterling-denominated short-term debt instruments, offers daily liquidity, is registered in Ireland as a UCITS money market fund, and operates in a "digital twin" model where investor holdings are represented on-chain while the fund itself continues to operate off-chain. Investors must use eligible digital wallets to access the new share class. BNY Mellon holds the fund’s assets, with digital asset custodian Komainu and digital infrastructure platform Licuido supporting this launch.
Aviva Launches Tokenized Pounds Fund on the XRP Ledger with £50M Initial Investment
TechFlowShare
Summary
Aviva Investors has launched a tokenized share class of its £22 billion Sterling Liquidity Fund on the XRP Ledger, marking a significant on-chain development. The firm announced an initial investment of £50 million into the new share class. The fund, established in 2002, invests in high-rated short-term sterling-denominated debt and provides daily liquidity. It operates as a UCITS money market fund domiciled in Ireland. The digital twin model enables investor holdings to be represented on-chain while the underlying fund remains off-chain. Access requires qualified digital wallets. BNY Mellon holds the underlying assets, with Komainu and Licuido supporting the launch. This initiative brings new momentum to the digital asset tokenization space.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.