Aviva Investors launches sterling fund shares on XRP Ledger

Aviva Investors has launched a tokenized share class of its Sterling Liquidity Fund on the XRP Ledger, extending its collaboration with Ripple and adding a second fund to its blockchain-based offerings. The fund manager said it invested £50 million in the new share class. Announced on October 26, the offering follows Aviva Investors’ tokenized USD Liquidity Fund share class, launched in July. The Sterling Liquidity Fund has about £22 billion in assets under management, equivalent to roughly $29.4 billion. That figure describes the conventional fund, not assets transferred onto the blockchain. The new share class uses a digital-twin model: investor holdings are represented onchain, while the underlying fund continues to operate offchain. Aviva said the tokenized shares retain the conventional fund’s investment objectives, risk profile, liquidity characteristics and regulatory protections. Eligible investors can access the share class through a digital wallet. The Sterling Liquidity Fund is an Ireland-domiciled UCITS money-market fund established in 2002. It invests in high-grade, short-term sterling debt and offers daily liquidity. BNY Mellon holds the fund’s underlying assets....