Aviva Launches Tokenized Share Class of Its £22 Billion Sterling Fund on the XRP Ledger, Seeds It With £50 Million

Published October 26, 2026, 9:15 PM PKT. Based on Aviva Investors' announcement on October 26, 2026 (primary source), and reporting by CoinTelegraph, CryptoWisser, Dealroom and 99Bitcoins on October 26, 2026 (secondary sources).

Aviva Investors has put a tokenized share class of its largest fund on the XRP Ledger. The asset management arm of UK insurer Aviva launched a tokenized share class of its Sterling Liquidity Fund on October 26, 2026, according to the company's announcement, and seeded the new class with £50 million of its own money. The fund holds about £22 billion in assets, according to CoinTelegraph's report on the announcement, but only the new share class sits on-chain. The rest of the fund keeps running exactly as before.

The £50 million seed and the £86 million total

Aviva's £50 million seed takes its total across two tokenized money market fund offerings above £86 million, or about $116 million, according to the announcement. The first offering, a tokenized share class of its U.S. dollar Liquidity Fund, launched in July 2026. Aviva says the two launches make it one of the largest asset management providers of tokenized money market funds in Europe.

The Sterling Liquidity Fund is an Ireland-domiciled UCITS money market fund launched in 2002, according to the announcement. It invests in high-grade, sterling-denominated short-term debt instruments and offers daily liquidity. The tokenized share class keeps the same investment objective, risk profile, liquidity characteristics and regulatory protections as the conventional fund, according to Aviva.

The digital twin model, and what stays off-chain

Aviva describes the structure as a digital twin model. Holdings in the new share class are represented on-chain while the fund itself keeps its existing off-chain structure, according to the announcement. The Bank of New York Mellon holds the fund's assets as custodian, while Komainu, a regulated institutional digital asset custodian, and Licuido, a digital infrastructure platform, supported the launch. The new share class is available to eligible investors with digital wallets.

The distinction matters for readers. The £22 billion figure is the size of the whole fund, not the amount moved on-chain. Only the new share class, seeded with £50 million, is tokenized. Dealroom's coverage notes the tokens mirror a conventional book entry reconciled daily, which limits their use as mobile collateral for now. That framing is Dealroom's assessment, not Aviva's claim, and it is worth carrying because it separates the headline fund size from the on-chain amount.

Aviva's second XRPL fund since July

The launch extends a partnership with Ripple that began in February 2026, according to Dealroom. Ripple worked with Aviva on the announcement, and Ripple senior vice president Nigel Khakoo framed the deal as part of a shift in market plumbing, saying markets are moving to 24/7 access and settlement is moving to real-time, always-on rails, according to CryptoWisser. Aviva Investors chief executive Mark Versey said tokenized funds can increase efficiency and ultimately lead to improved client outcomes, according to the same report, and that the launch provides a base for widening the firm's tokenization program.

The XRP Ledger ranks as the ninth-largest blockchain network for tokenized assets, with $642 million in total distributed real-world asset value and about 2,900 unique holders, according to RWA.xyz data cited by CoinTelegraph. The Aviva launch follows Standard Chartered's October 12, 2026 move to hold Ripple's RLUSD stablecoin for institutional clients through its Dubai branch, according to 99Bitcoins, the second large Ripple-linked institutional deal in two weeks.

This article is news reporting and is not investment advice.

Sources

• Aviva Investors, Aviva Investors expands tokenisation offering (October 26, 2026), primary source
• CoinTelegraph via TradingView, Aviva Investors launches tokenized share class of $29B Sterling fund on XRP Ledger (October 26, 2026), secondary source
• CryptoWisser, Aviva Launches Tokenized Share Class of £22 Billion Sterling Fund on XRP Ledger (October 26, 2026), secondary source
• Dealroom, Aviva puts £50M into tokenized sterling fund on XRP Ledger (October 26, 2026), secondary source
• 99Bitcoins via TradingView, Aviva Investors Brings £22 Billion Sterling Fund to the XRP Ledger (October 26, 2026), secondary source