Aviva Investors Launches Tokenized Money Market Fund on XRP Ledger

Aviva Investors has partnered with Ripple to launch the first tokenized money market fund share class on the XRP Ledger, named the US Dollar Liquidity Fund. This fund is part of the existing money market fund system and has been approved by the Central Bank of Ireland. The newly launched tokenized fund share class is not a new independent fund; it plans to initially deploy approximately $1.34 million on-chain. Aviva Investors stated that this collaboration aims to provide a scalable foundation for future fund distribution and market infrastructure development. The existing fund size of other share classes is approximately $1.23 billion, and the tokenization arrangement marks the extension of traditional asset management institutions' existing fund structures onto the blockchain. Such products are seen as a way to combine traditional funds with blockchain infrastructure, promoting the expansion of RWA products. An increasing number of financial institutions, banks, and investment management companies are beginning to adopt the XRP Ledger, with traditional asset management firms bringing low-volatility products like money market funds into on-chain distribution and settlement scenarios.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.