[DigitalToday reporter Jinju Hong] UK asset manager Aviva Investors launched a tokenised share class of its flagship Sterling Liquidity Fund on the XRP Ledger (XRPL) with Ripple. The on-chain link applies to a 22 billion pound fund that invests in short-term UK gilts.

On Oct. 26 (local time), blockchain outlet U.Today reported that the move is drawing attention as a case that directly connects large-scale institutional funds to the XRPL ecosystem. The amount actually placed on the blockchain was limited to 50 million pounds. Aviva's digital assets in Europe, including a dollar pilot conducted in July, also stand at just over 86 million pounds.

Compared with the overall fund size, the share is only 0.4 percent. Even so, it is meaningful as an example of real use by institutional investors because a major UK asset manager introduced a separate tokenised share class while keeping the existing fund structure.

Aviva did not change the existing fund structure it has operated since 2002. Instead, it added an on-chain share class in a way the outlet described as a "digital twin". The funds remain within the traditional financial system, while the XRPL serves as an electronic notarised ledger that records ownership. The regulatory framework, compliance and the underlying fund's daily liquidity were maintained in the process.

The transaction structure was also divided by role. BNY Mellon handles custody of the underlying assets, while Komainu is responsible for digital wallet security. The technical tokenisation procedure is handled by the Liquido platform. That effectively assigns custody, wallet security and issuance infrastructure to different providers to reduce operational risk.

Investor access is restricted. The share class is not open to retail investors, and only professional investors who pass strict know-your-customer procedures can participate. The setup targets institutional inflows while operating within the existing regulatory framework.

Mark Versey (마크 버시), chief executive officer of Aviva Investors, showed the company's determination to secure a leading position in the field in connection with its Web3 expansion. He said tokenisation can optimise internal processes and ultimately lead to improved outcomes for clients.

The case shows tokenisation spreading in a direction that digitises some rights records and operating procedures while keeping existing legal structures and custody arrangements, rather than fully moving existing funds onto a blockchain. The XRPL was used as an ownership-recording infrastructure based on fast processing speeds and low transaction costs.

From a market perspective, the symbolism is bigger than the amount actually transferred. With a case starting from a 22 billion pound fund, it signals that regulated institutional money is beginning to use the network in practice from the standpoint of the XRPL. Aviva also chose a conservative UK-style approach by introducing a limited on-chain class first instead of a drastic restructuring.

Alongside this, the broader financial sector is building payment infrastructure that is not constrained by bank business hours. U.Today pointed out that the global financial industry is creating future payment "rails" and that payments are moving to a "24 hours a day, seven days a week" system. The launch remains a case in that trend in which a major asset manager applied the XRPL to work suited to a real regulatory environment.