Aviva Investors Launches Tokenized Share Class of Sterling Fund on XRPL
Aviva Investors, the asset management arm of UK-based insurer Aviva, has launched a tokenized share class of its Sterling (GBP) Liquidity Fund on the XRP Ledger (XRPL). This move follows their previous expansion into tokenized funds with the USD Liquidity Fund in July.
The Sterling fund, with approximately $29.4 billion in assets under management, now offers investors the option to participate in the fund through tokenized shares. Aviva has invested £50 million into this new tokenized share class, highlighting their commitment to the XRP Ledger and tokenized asset offerings.
This collaboration between Aviva and Ripple aims to increase the presence of tokenized funds on the XRP Ledger, which is currently the ninth-largest blockchain network for tokenized assets.
Key Takeaways:
- Aviva is one of Europe's largest asset management providers of tokenized money market funds, with approximately £86 million invested across their two tokenized share class offerings.
- The XRP Ledger is seeing growing adoption for tokenized assets, with $642 million in total distributed real-world asset value and nearly 3,000 unique holders.
- Aviva's move is part of a broader trend towards blockchain-based financial innovations, including tokenized stocks and stablecoins.
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