Ripple and Aviva Investors went live with a tokenized share class of the Aviva Investors USD Liquidity Fund on the XRP Ledger on July 29, 2026, after the Central Bank of Ireland cleared the structure — the first such approval for a public blockchain by a major EU regulator. XRP traded lower on the news, while Aviva and Ripple frame the fund as the opening step of a wider tokenization pipeline.
Ripple and Aviva Investors went live on July 29, 2026, with a tokenized share class of the Aviva Investors USD Liquidity Fund on the XRP Ledger. The Central Bank of Ireland's sign-off marks the first time a major EU financial regulator has approved a public-chain tokenized fund structure, giving other Irish- and EU-domiciled asset managers a live compliance template rather than a theoretical framework to evaluate.
XRP dropped 0.7% overnight on the news, trading around $1.08 after losing support at $1.10. Daily trading volume for the asset sits at $1.14 billion, up from $1.05 billion the day before.
From a February pact to a live product
The two firms announced their partnership intent on February 11, 2026, committing to tokenize fund products on XRPL across multiple asset classes over a multi-year collaboration. The USD Liquidity Fund share class is the first live output of that roadmap. It targets daily liquidity through high-grade, USD-denominated short-term debt, carrying the same investment objective, risk profile, and regulatory protections as its conventional share class, with the ledger acting as the record-keeping and transfer layer.
The custody stack behind the launch
Licuido's platform issues the digital share class on XRPL, Komainu holds the digital asset custody layer, and BNY Mellon keeps custody of the underlying fund assets in the traditional structure. XRPL has processed more than 4 billion transactions since its 2012 launch and now supports roughly 8 million active wallets across more than 130 independent validators.
Nigel Khakoo, Ripple's Senior Vice President of Trading and Markets, said the launch shows a regulated, institutional-grade tokenized product can reach live infrastructure with real investor protections in place. Mark Versey, Chief Executive Officer of Aviva Investors, called tokenization a significant development for the investment industry and described the Ripple partnership as crucial to the launch.
What the approval signals for fund tokenization
The CBI's approval resolves, at least within the Irish regulatory perimeter, whether regulators will give real-world asset tokenization the jurisdictional clarity to scale, and it positions the fund as a replicable model for other EU-domiciled managers. The effect may land hardest on competing asset managers weighing public against private networks for their own programs, now that a CBI-approved precedent exists.
Aviva Investors managed approximately $310 billion in assets under management as of 2025, and both firms have framed the launch as the first step in a broader pipeline of tokenized fund products on XRPL. How quickly additional Aviva funds move through the CBI process will determine whether this stays a single milestone or becomes a sustained program.
Source: Coinspeaker
Trading involves risk.
Risk Disclaimer
