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Aviva Investors brings its biggest fund, a $29 billion sterling money market fund, to the XRP Ledger with Ripple
Summary
Aviva Investors, the asset management arm of UK insurer Aviva, has launched a tokenized share class of its Sterling Liquidity Fund on the XRP Ledger, The Block and Cointelegraph reported on Monday, Oct. 26.
Cointelegraph said the fund is the company's largest, with about 22 billion British pounds ($29.4 billion) under management, and that Ripple and Aviva announced the launch jointly.
It is Aviva's second tokenized fund on the network, after it expanded its USD Liquidity Fund to the XRP Ledger in July, and the move is part of a broader Aviva-Ripple collaboration to bring more tokenized funds to the ledger, according to Cointelegraph.
Aviva put 50 million pounds of its own money into the new tokenized share class and says about 86 million pounds is now invested across its two tokenized offerings, Cointelegraph reported.
Key facts
- Aviva Investors launched a tokenized share class of its Sterling Liquidity Fund on the Ripple-backed XRP Ledger.
- The Sterling Liquidity Fund is Aviva's largest fund, with about 22 billion pounds ($29.4 billion) in assets under management.
- Aviva made a 50-million-pound investment in the new tokenized share class.
- Aviva says about 86 million pounds is invested across its two tokenized share class offerings, making it one of Europe's largest providers of tokenized money market funds.
- Aviva's first tokenized fund on the network came in July, when it expanded its USD Liquidity Fund to the XRP Ledger.
- The XRP Ledger ranks ninth among blockchains for tokenized assets, with $642 million in distributed real-world asset value and about 2,900 unique holders, per RWA.xyz data cited by Cointelegraph.
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