The existing fund remains the underlying product
The Sterling Liquidity Fund is an Irish UCITS money-market fund launched in 2002. It invests in high-quality short-term debt instruments denominated in GBP and has about GBP 22 billion in assets under management.
The new tokens represent shares in that fund. They do not create a separate pool of assets, and their investment performance still comes from the fund’s short-term debt portfolio rather than changes in the price of XRP.
The tokenised class is intended for eligible investors with digital wallets. Investors must still satisfy the fund’s access and compliance requirements before they can hold or redeem the digital shares.
Three infrastructure providers have different roles
Licuido provides the tokenisation platform used to issue and manage the digital representation on the XRP Ledger. Komainu acts as the regulated digital-asset custodian for the wallet infrastructure.
BNY remains the custodian of the fund’s underlying assets, while Komainu handles the digital-asset custody infrastructure.
Aviva announced the sterling class on 26 October 2026 and made an initial investment of GBP 50 million. The company had already launched a tokenised share class for a US-dollar liquidity fund, so the sterling product extends an existing programme.
| Item | Detail |
|---|---|
| Underlying product | Irish UCITS Sterling Liquidity Fund, launched in 2002 |
| Investment focus | High-quality short-term debt instruments in GBP |
| Amount invested by Aviva | GBP 50 million |
| Tokenisation platform | Licuido |
| Digital-asset custodian | Komainu |
| Fund asset custodian | BNY |
| Fund liquidity | Daily |
Distribution and redemption will determine adoption
The XRP Ledger records the issue and movement of the tokens, but institutional use also depends on investor onboarding, reporting, fees and redemption timing. Every provider must recognise the same ownership record.
A GBP-denominated money-market product can give institutions a familiar investment objective while using digital infrastructure. Tokenisation changes the method used to represent the shares; it does not remove the rules of the fund.
The GBP 50 million commitment provides a working base. Wider adoption will depend on whether eligible investors can connect digital wallets to their existing compliance and cash-management processes.
This article is for information only and is not investment advice.
admin_wcContributor · World-CryptMore from
