Aviva invested £50 million in a tokenized share class of its sterling liquidity fund on the XRP Ledger, bringing its investments across two offerings to more than £86 million. The transaction concerns its largest fund, which manages approximately £22 billion, and uses the Multi-Purpose Token standard, which requires holder authorization and disables transfers between investors. Ripple also launched 24/7 Returns, allowing eligible companies to generate returns on digital assets held in its wallets, and an orchestration layer combining GSmart with its cash-management tools. The direct impact on XRP remains unproven: transaction fees are very small, tokenized fund holdings do not amount to equivalent XRP purchases, and Ripple payments can be settled through other networks or assets, including the RLUSD stablecoin.
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