Compass Investments

On July 29, 2026, Aviva Investors launched tokenized shares of its dollar-denominated liquidity fund on the XRP blockchain. The Central Bank of Ireland has approved this scheme, which participants have called the worlds first regulatory precedent for tokenized funds.

BNY Mellon is responsible for custody of the underlying assets, while Komainu and Licuido are responsible for the blockchain processes.

Aviva Investors, the asset management division of the British insurance group Aviva plc, launched tokenized shares of its dollar-denominated money market fund on the XRP Ledger (XRPL) on July 29, 2026. This product represents a new category of shares in an Irish-registered money market fund that was originally launched in traditional form in 2020. Ripple facilitated the launch by bringing to life the partnership announced by both companies on February 11, 2026. This move marks Ripples first alliance with a European investment manager and Aviva Investors first tokenized product. The fund aims to provide low-risk income and daily liquidity through high-quality, short-term U.S. dollar-denominated debt securities.

The Central Bank of Ireland approved a new share class, which Aviva and Ripple described as the first-ever regulatory approval for a tokenized fund structure. Qualified investors receive the same investment objectives, risk profile, liquidity terms, and regulatory protections as with a traditional share class.

Innovation has always been at the heart of Aviva Investors tradition, and we see tokenization as a significant step forward for the investment industry. We believe this trend will increase efficiency and ultimately improve outcomes for clients, he stated on July 29, 2026.

Mark Versi, CEO of Aviva Investors

The digital twin model allows assets to be held off-chain through BNY Mellon.

The launch utilizes a digital twin model. The funds assets remain off-chain within the existing regulated system, while tokens on the XRPL represent investors shares. BNY Mellon continues to manage the underlying assets. Komainu, a regulated digital asset custodian, provided the blockchain infrastructure, while Licuido supplied the tokenization technology. This arrangement allows Aviva to issue and manage fund shares without moving the underlying securities onto the network.

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Aviva Investors has proven that it is possible to bring a regulated, institutional-grade tokenized product to market using existing infrastructure with real investor protections, he noted on July 29, 2026.

Nigel Haku, Senior Vice President of Trading and Markets, Ripple

XRP is trading around $1.07 amid growth in assets on the XRPL network

At the time of writing, XRP was trading at $1.07, down 1.11% from its previous close over the past 24 hours (CoinPaprika, July 30, 2026). The tokens market capitalization is approximately $67.0 billion. According to RWA.xyz, on July 29, 2026, the XRP Ledger recorded approximately $4.37 billion in real-world assets, of which $313.3 million were distributed assets and $4.06 billion were represented assets.

Access is currently limited to accredited investors

Access remains limited to accredited investors with approved digital wallets. Aviva and Ripple did not disclose the initial value of the shares issued in the tokenized class. The announcement made no mention of a retail offering in the U.S. or approval from the U.S. Securities and Exchange Commission (SEC). The funds denomination in U.S. dollars does not imply automatic access to it in the U.S., where access depends on local securities regulations and Avivas requirements for registering new clients. Aviva intends to explore the creation of other tokenized funds as part of this partnership.

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Cryptocurrencies are highly volatile and carry significant risks. You may lose some or all of your investment.

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