Aviva Investors debuts tokenized fund share class on XRP Ledger

The project utilizes a digital twin architecture, where fund holdings are reflected on-chain while the underlying assets remain securely held by BNY Mellon. By maintaining the existing UCITS regulatory framework, the firm provides investors with the same liquidity terms and protections found in the conventional 2020-era fund. The Central Bank of Ireland granted approval for this structure, which also incorporates support from digital asset custodian Komainu and technology provider Licuido.

Mark Versey, CEO of Aviva Investors, framed the launch as an initial move toward improving client outcomes through increased administrative efficiency. While the tokenized class operates on the XRP Ledger, the underlying securities are not directly moved onto the network. This development follows a strategic agreement announced in February, signaling a commitment to expand regulated fund offerings through 2026. The move adds to the approximately $4.37 billion in real-world assets currently tracked on the ledger, further diversifying the network's institutional utility beyond stablecoins.