U.K. asset manager Aviva Investors has announced the launch of its first tokenized fund structure on the XRP Ledger, marking a significant milestone in the asset management industry's digital transformation. According to reports from BlockWeeks, the Ireland-domiciled fund received Central Bank of Ireland approval for its new share class, allowing eligible investors to access the regulated USD liquidity fund through digital wallets while BNY Mellon holds the underlying assets. The product represents the first partnership between Ripple and a European investment firm to tokenize real-world assets at scale, as reported by CoinGape. This follows the partnership that both firms struck earlier this year to advance tokenization on the XRP Ledger.
The tokenized fund operates using a 'digital twin' structure where fund holdings are represented on the XRP Ledger while the existing off-chain fund and regulated framework remain intact. As reported by Aviva Investors, eligible investors with approved digital wallets receive the same investment objective, risk profile, liquidity terms and regulatory protections available through the conventional share class. The fund targets low-risk returns and daily liquidity through high-grade, short-term debt instruments denominated in US dollars, with Komainu providing regulated digital asset custodian services and Licuido handling tokenization technology. 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 launch occurs within the context of XRPL hosting approximately $4.37 billion in distributed and represented real-world assets as of the latest data. The network shows $313.3 million in distributed assets and $4.06 billion in represented assets, with the number of RWA holders increasing 17.42% over the previous 30 days to 182. However, distributed asset value fell 5.24% while represented value declined 0.47% during the same period. The network also holds $952.25 million in stablecoins, including approximately $907.2 million attributed to RLUSD. The launch coincides with the XRP Ledger fix amendment going live, as network developers continue pushing upgrades to boost institutional adoption.
For US investors, the fund's dollar denomination does not automatically make it available in the United States, with access limited to eligible investors and dependent on local securities rules and distribution approvals. According to Ripple, the partnership extends beyond the current launch, with both companies planning to work together throughout 2026 and beyond on bringing regulated funds to XRPL. Ripple has also expanded its institutional infrastructure, launching Ripple Mint and separately investing in compliance firm Notabene to address token issuance, distribution and compliance requirements. The XRP Ledger continues to see increased activity in terms of tokenization, with the total tokenized value on the network currently standing at just over $4.3 billion.
