Sterling Liquidity Fund investors gained a tokenized investment option on October 26, 2026, as Aviva Investors launched a new share class on the XRP Ledger. Aviva invested £50 million in the offering, which adds blockchain-based access to the asset manager’s largest fund without replacing its existing structure.
Key Takeaways
- The approximately £22 billion asset total belongs to the whole fund, not the new tokenized share class.
- Aviva Investors now has more than £86 million invested across its sterling and US dollar tokenized share classes.
- Eligible investors can use digital wallets while retaining the conventional fund’s investment objective and regulatory protections.
Table of Contents
- Sterling Liquidity Fund expands Aviva’s tokenized offering
- A digital access layer, not a replacement portfolio
- Further expansion remains an ambition
- Conclusion
Sterling Liquidity Fund expands Aviva’s tokenized offering
The launch is Aviva Investors’ second tokenization of an existing fund, following the introduction of a tokenized share class for its USD Liquidity Fund in July 2026. Both offerings use the XRP Ledger.
The joint sterling share-class launch announcement puts the underlying fund’s assets under management at approximately £22 billion. That figure describes the entire portfolio; it does not mean £22 billion has moved onto the blockchain.
Aviva’s £50 million investment provides capital for the new sterling share class. Across the two tokenized offerings, invested assets now exceed £86 million, a separate measure from the total assets of the underlying funds.
| Item | Details |
|---|---|
| Fund domicile and structure | Ireland-domiciled UCITS money market fund. |
| Conventional fund launch | 2002. |
| Underlying asset custodian | The Bank of New York Mellon. |
| Launch support | Digital asset custodian Komainu and tokenization infrastructure platform Licuido. |
A digital access layer, not a replacement portfolio
The offering uses a “digital twin” model: holdings can be represented on-chain while the existing off-chain fund structure remains intact. The new share class is available to eligible investors with digital wallets.
Investors retain the same investment objective, risk profile, liquidity characteristics and regulatory protections as the conventional fund. The portfolio targets low-risk returns and daily liquidity through high-grade, sterling-denominated short-term debt instruments; those objectives are not a guarantee of returns.
The practical change is how eligible investors access and hold a representation of their fund interest, rather than a new investment strategy. The announcement does not establish unrestricted retail access or round-the-clock redemption.
Further expansion remains an ambition
Aviva Investors chief executive Mark Versey said the second launch sets the groundwork for expanding the firm’s tokenization capabilities. He described greater efficiency and improved client outcomes as potential benefits, rather than demonstrated results.
The launch extends Aviva Investors’ collaboration with Ripple. The companies have not announced a timetable or named the next fund to receive a tokenized share class.
Conclusion
The Sterling Liquidity Fund launch extends Aviva Investors’ tokenized range from dollars to sterling. Any further expansion will depend on subsequent announcements; no next launch date has been disclosed.
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