Aviva Investors launches tokenised Liquidity Fund share class in partnership with Ripple

29 July 2026

(London) – Aviva Investors, the global asset management business of Aviva plc, and Ripple, the leading provider of blockchain-based enterprise solutions across traditional and digital finance, have today announced the successful launch of a tokenised share class of the Aviva Investors US Dollar (USD) Liquidity Fund. 

  • Aviva Investors has launched a tokenised share class for the Aviva Investors US Dollar (USD) Liquidity Fund, allowing investment in the fund in tokenised format, on the XRP Ledger 
  • This marks the first tokenisation of an Aviva Investors fund, and follows the announcement of the partnership between the firm and Ripple early in the year 
  • The launch was supported by Komainu who provided regulated institutional digital asset custody, with tokenisation infrastructure provided by Licuido

The tokenised USD Liquidity Fund will be available on the XRP Ledger (XRPL) – a public blockchain built for fast, secure, and low-cost settlement. Investors will benefit from the same investment objective, risk profile, liquidity characteristics and regulatory protections as the conventional fund, alongside enhanced operational features enabled by tokenisation.

The tokenised share class launch was also supported by Komainu, a regulated institutional digital asset custodian, alongside Licuido, a digital platform company that helps Asset Management companies to tokenise real world assets. As part of this launch, the new tokenised share class has also been approved by the Central Bank of Ireland (CBI), marking a regulatory first with regards to tokenised fund structures.

The Fund, which was initially launched in its ‘traditional’ structure in 2020, targets low-risk returns and daily liquidity by offering investors exposure to high-grade US dollar-denominated short-term debt instruments. The new share class will be available to eligible investors with digital wallets, with all assets held by the fund’s custodian, The Bank of New York Mellon. The structure has been designed to operate within existing regulatory frameworks, providing a scalable foundation for future innovation in fund distribution and market infrastructure.

The XRPL, will enable Aviva Investors to reliably issue and manage the tokenised share class of the USD Liquidity Fund using fast, secure, low-cost blockchain transactions, in an energy efficient format. It offers a set of features, including compliance capabilities, designed to support financial institutions operating in regulated markets. Since 2012, the network has processed more than 4 billion transactions, supports nearly 8 million active wallets, and is maintained by 130+ independent validators.

Mark Versey, CEO at Aviva Investors, said:

“We’re thrilled to be able to announce the launch of our first fund in the tokenisation space, with the addition of the new tokenised share class for our USD Liquidity Fund. Innovation has always been central to Aviva Investors’ heritage, and we believe that tokenisation is a significant development within the investment industry. It is our view that this trend will increase efficiency and ultimately lead to improved client outcomes, and as such it is something we have been keen to develop for a number of months. Our partnership with Ripple has been crucial to this endeavour and we look forward to continuing working together, as we look to further explore the possibilities of tokenised fund structures.”

Nigel Khakoo, Senior Vice President, Trading and Markets, Ripple:

“This is a landmark moment for fund tokenisation. Aviva Investors has demonstrated that it is possible to bring a regulated, institutional-grade tokenised product to market on live infrastructure, with real investor protections in place. The XRP Ledger was built for exactly this kind of application, and we expect this launch to set a strong precedent for other asset managers looking to explore tokenised fund structures.”

For more information contact:

Steve Ainger

Head of Media Relations

Laura Cocker

Media Relations Manager

James Morgan

Media Relations Manager

Thomas Green

Media Relations Manager

Important Information

About Aviva Investors

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in nine countries in Asia Pacific, Europe, North America and the United Kingdom with £246 billion in assets under management as at 30 June 2025.

Key Risks

Investment Risk & Currency Risk
The value of investments and the income from them will change over time. The Fund price may fall as well as rise and as a result you may not get back the original amount you invested.

Money Market Securities Risk
The Fund invests in money market instruments such as short-term bank debt, the market prices/value of which can rise as well as fall on a daily basis. Their values are affected by changes in interest rates, inflation and any decline in creditworthiness of the issuer.

This is not a guaranteed investment, an investment in a Money Market Fund is different from an investment in deposits and can fluctuate in price meaning you may not get back the original amount you invested. This investment does not rely on external support for guaranteeing liquidity or stabilising the NAV per unit or share. The risk of loss of the principal is to be borne by the investor.

Sustainability Risk
The level of sustainability risk may fluctuate depending on which investment opportunities the Investment Manager identifies. This means that the fund is exposed to Sustainability Risk which may impact the value of investments over the long term.

Important Information

THIS IS A MARKETING COMMUNICATION

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”). Unless stated otherwise any opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. Past performance is not a guide to the future. The content of this presentation does not purport to be representational or provide warranties above and beyond those contained in the Prospectus and subscription documentation of the Fund. The Prospectus and the subscription document contain the full terms, conditions, representations and warranties in respect of the Fund. The content of this presentation does not purport to be representational or provide warranties above and beyond those contained in the legal documentation and subscription documentation of the following funds/ sub funds:

  • Aviva Investors US Dollar Liquidity Fund

The legal documentation and the subscription documents contain the full terms, conditions, representations and warranties in respect of the Fund. Nothing in this presentation is intended to or should be construed as advice or recommendations of any nature. This document is not a recommendation to sell or purchase any investment. It does not form part of any contract for the sale or purchase of any investment. The Fund is subject to the tax laws and regulations of Ireland. Depending on your own country of residence, this might have an impact on your investment. This document should not be taken as a recommendation or offer by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation.

For Investors located in EU/EEA countries, the Prospectus and Key Information Document (‘KID’), as well as the latest annual and semi-annual reports of the Fund are available, free of charge from the manager of the fund Aviva Investors Luxembourg S.A., 2 rue du Fort Bourbon .L-1249 Luxembourg, Grand Duchy of Luxembourg R.C.S. Luxembourg B25708, or from www.eifs.lu/aviva-investors.  The Prospectus is available in English. Where a sub fund is registered for public distribution in a jurisdiction, a KID in the official language of that jurisdiction will be available.

For Investors in the United-Kingdom: Aviva Investors, 80 Fenchurch Street, London, EC3M 4AE, United Kingdom.

Where relevant, information on our approach to the sustainability aspects of the fund and the Sustainable Finance disclosure regulation (SFDR) including policies and procedures can be found on the following link: https://www.avivainvestors.com/en-gb/capabilities/sustainable-finance-disclosure-regulation/

In Europe this document is issued by Aviva Investors Luxembourg, acting as the Management Company of the fund, with its registered office located 2 rue du Fort Bourbon, L-1249 Luxembourg, Grand Duchy of Luxembourg. Aviva Investors Luxembourg is supervised by the Commission de Surveillance du Secteur Financier, R.C.S Luxembourg B25708. In the UK this document is issued by Aviva Investors Global Services Limited, registered in England and Wales No. 1151805, with its registered office located at 80 Fenchurch Street, London, EC3M 4AE. Aviva Investors Global Services Limited is authorised and regulated by the Financial Conduct Authority. Firm Reference No. 119178.