Aviva Brings Tokenized Liquidity Fund to XRP Ledger in Ireland's First CBI-Approved Launch

Aviva Investors has entered blockchain-based finance with the launch of a tokenized share class of its US Dollar Liquidity Fund on the XRP Ledger (XRPL). The rollout is Aviva's first tokenized fund and the first product delivered under its partnership with Ripple. The firm is not creating a new vehicle. Instead, it has tokenized an existing regulated fund using a digital twin structure, where each on-chain token mirrors ownership of the underlying off-chain fund. Aviva says investors retain the same strategy, daily liquidity, risk profile, and regulatory protections as the traditional share class, while gaining blockchain benefits such as operational efficiency, transparency, and 24/7 accessibility. The structure has received approval from the Central Bank of Ireland, positioning it as the first regulatory-approved tokenized fund of its kind in the country. The launch is being presented as evidence that tokenized products can operate within established regulatory frameworks, adding to institutional confidence in blockchain infrastructure. Established financial firms are supporting the setup. BNY Mellon remains custodian of the underlying assets, Komainu provides regulated digital-asset custody, and Licuido supplies the tokenization infrastructure that issues the fund representation on XRPL. Ripple said the XRP Ledger was designed for institutional tokenization, citing near-instant settlement, low transaction costs, energy efficiency, and compliance-focused features. Since launching in 2012, XRPL has processed more than four billion transactions, supports nearly eight million wallets, and is secured by over 130 independent validators. Market observers argue the implications could extend beyond a tokenized liquidity fund. XRPL dUNL validator Vet said moving real-world assets (RWAs) on-chain turns them from passive holdings into programmable instruments. In traditional markets, liquidity funds are typically bought, redeemed, or transferred through conventional rails during business hours. On XRPL, similar assets could be used as collateral for lending, provide liquidity on the decentralized exchange, or be transferred globally with near-instant, 24/7 settlement. The launch comes as XRPL steps up efforts to become a leading platform for institutional tokenization, supported by enterprise-grade infrastructure, rising regulatory acceptance, and broader RWA adoption. Beyond Aviva, a forthcoming Stellar wallet integration is expected to add about 1.5 million users to the XRPL ecosystem, while projects such as RedotPay's RLUSD-powered payment card are being positioned as examples of how tokenized assets and stablecoins can link investing with everyday payments. Taken together, proponents say the trend points to a wider shift: XRPL is not only bringing RWAs on-chain, but also building the rails for those assets to move, interact, and settle globally around the clock.