Aviva Investors puts a money fund share class on the XRP Ledger
The Central Bank of Ireland has approved a tokenized share class of Aviva Investors' US Dollar Liquidity Fund, issued on the XRP Ledger with Ripple, Komainu and Licuido—which Aviva calls a regulatory first for tokenized fund structures.
What happened
On 29 July Aviva Investors, the asset management arm of Aviva plc with £246bn under management at 30 June 2025, launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger. Ripple provides the ledger, Komainu the institutional custody of the tokens and Licuido the tokenization infrastructure. The Central Bank of Ireland approved the share class, which Aviva describes as a regulatory first with regards to tokenized fund structures. The conventional fund has run since 2020; the tokenized class carries the same investment terms as the traditional one. Crypto.news reports the structure as a digital twin, with fund holdings represented on the ledger while the underlying assets remain off-chain.
Why it matters
Money funds have been the beachhead for tokenized capital markets—BlackRock's BUIDL, Franklin Templeton's Benji and JPMorgan's tokenized money fund all began there—and this launch adds a large insurer-owned European manager to the list. The Central Bank of Ireland's approval matters beyond one fund: Irish-domiciled fund structures are the workhorse of European asset management, and a supervisory sign-off on a tokenized share class gives other managers a path to copy. It is also a first regulated fund of this kind for the XRP Ledger, which has so far held a small share of tokenized real-world assets relative to Ethereum and BNB Chain.
What is not settled
Aviva has not said how large the tokenized share class is, who the early investors are, or how widely wallets will be approved for access. The twin-register mechanics come from the reporting rather than the release: crypto.news and Treasury Management International both describe a digital twin, with holdings represented on the ledger while the underlying assets stay off chain and The Bank of New York Mellon remaining the fund's custodian, while Aviva's own release names Komainu for digital asset custody and does not set the arrangement out. Whether the Central Bank of Ireland's approval reads across to other fund types, or was specific to a liquidity fund's characteristics, is not stated by either the manager or the regulator, which has published nothing of its own on the approval.
Institutions in this story
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Aviva Investors
Asset manager
Launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger on 29 July 2026, the first tokenization of one of its funds, with the Central Bank of Ireland's approval and the same investment terms as the conventional class that has run since 2020.
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Ripple
Payment provider
Supplies the ledger the share class is issued on, under a collaboration with the manager announced in February 2026; the XRP Ledger has so far held a small share of tokenized real-world assets against Ethereum and BNB Chain, and a regulated fund class is the kind of listing that changes that.
On the record
Aviva Investors launches a tokenized money fund share class on the XRP Ledger
Aviva Investors launched a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger on 29 July 2026, approved by the Central Bank of Ireland. Ripple supplies the ledger, Komainu the institutional custody of the tokens and Licuido the tokenization infrastructure, with The Bank of New York Mellon remaining the fund's custodian. The conventional fund has run since 2020 and the tokenized class carries the same investment terms.