Ripple buys stakes in Zilo and Licuido to power XRPL tokenization
Ripple converted existing partnerships with UK firms Zilo and Licuido into equity stakes on August 3, 2026. The move adds regulated transfer agency, compliant digital issuance, and collateral mobility to the XRP Ledger’s capital markets stack. XRP trades at $1.07, up +0.5% in 24 hours and +1.7% in seven days, with $965M daily volume.
Zilo and Licuido: Roles on XRPL
Zilo: regulated transfer agency and fund administration. It maintains definitive ownership records for tokenized fund shares, enabling lenders and counterparties to extend credit against holdings.
Licuido: FCA-regulated issuance, distribution, execution, and collateral mobility. It enables tokenized assets to circulate on-chain and be pledged and settled with legal certainty.
RLUSD, Ripple’s dollar-pegged stablecoin, serves as the cash leg for atomic delivery-versus-payment, settling asset and payment transfers on XRPL within seconds.
Combined stack: Zilo’s ownership records, Licuido’s issuance and liquidity, and RLUSD for settlement aim to complete the tokenized asset lifecycle on a single ledger.
Institutional Progress and Precedents
Licuido powered Aviva Investors’ USD Liquidity Fund tokenization on XRPL that went live on July 29, 2026. The Central Bank of Ireland approved this as the first tokenized fund structure on a public blockchain. Ripple’s equity positions follow successful production use.
Ripple’s February 2026 partnership with Aviva Investors, which managed $345B in net assets as of 2025, targets tokenized fund structures on XRPL. A memorandum with DBS and Franklin Templeton outlines using the sgBENJI tokenized money market fund as repo collateral on DBS Digital Exchange alongside RLUSD.
Analytical View: From Minting to Market Utility
Ripple’s trading and markets lead Nigel Khakoo states the value of tokenization is realized through trading, settlement, borrowing, lending, and margining. The question now: can tokenized funds on XRPL achieve secondary liquidity and serve as financeable collateral at institutional scale. The next 12 to 24 months will indicate whether active liquidity forms.
Ripple participates in a UK government task force with 54 firms, including Circle, BlackRock, and J.P. Morgan, working on live tokenized repo use cases this year. XRPL’s xrpld 3.3.0 upgrade planned for next week targets enhancements for tokenization and institutional finance.
