Central Bank of Ireland approves first public-chain fund on XRP Ledger
Ripple and Aviva Investors launched a tokenized share class of the Aviva Investors USD Liquidity Fund on the XRP Ledger on July 29, 2026. It is the first tokenized fund structure on a public blockchain approved by the Central Bank of Ireland. BNY Mellon holds the underlying assets, Komainu provides regulated digital asset custody, and Licuido supplies the tokenization infrastructure.
Ripple powers the new tokenised share class for @AvivaInvestors' USD Liquidity Fund:
🔹 Issued on the #XRP Ledger 📒
🔹 Custody by @KomainuAUM & tech by Licuido
🔹 Approved by the Central Bank of Ireland
🔹 Assets held by BNY (@BNYMellon)https://t.co/AQACarG2aQ pic.twitter.com/VOqW79fidJ— 𝗕𝗮𝗻𝗸XRP (@BankXRP) July 29, 2026
This approval provides a live, regulated template for tokenized fund structures on a public chain for Irish and EU-domiciled managers. XRP traded near $1.08 after a -0.7% move, with daily volume at $1.14 billion, up from $1.05 billion.
From announcement to production
Ripple and Aviva Investors announced plans on February 11, 2026 to tokenize fund products on XRPL across multiple asset classes. The USD Liquidity Fund tokenized share class is the first production deployment. The fund targets daily liquidity via high-grade USD short-term debt instruments and maintains the same objective, risk profile, and regulatory protections as its conventional share class. Eligible investors with digital wallets access identical terms, with XRPL as the record-keeping and transfer layer.
Stack and mechanism
Licuido issues the tokenized share class on XRPL. Komainu provides regulated digital asset custody. BNY Mellon holds the underlying fund assets in the traditional structure. The setup links legacy custodial infrastructure with crypto-native settlement inside a single regulated product.
XRPL metrics: more than 4 billion transactions since 2012, about 8 million active wallets, over 130 independent validators. Selection factors: near-instant low-cost settlement, native tokenization, predictable finality, and compliance tooling.
Statements: Ripple’s Trading and Markets SVP said the launch shows regulated, institutional-grade tokenized products can run on live infrastructure with investor protections. Aviva Investors’ CEO called tokenization a significant development for the investment industry and cited Ripple’s role in execution.
Implications for RWA tokenization
The Central Bank of Ireland’s approval establishes jurisdictional clarity for a public-chain tokenized fund within Ireland and offers a replicable model for EU managers. The approval may influence firms weighing public versus private DLT by reducing perceived regulatory risk for public chains.
Aviva Investors managed about $310 billion AUM in 2025. Both firms indicate additional tokenized fund products on XRPL are planned. Pace of subsequent CBI approvals will determine whether this becomes a sustained tokenization program on XRPL or remains an isolated milestone.
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