Aviva Investors has launched a tokenized fund after receiving approval from the Central Bank of Ireland. According to reporting from CoinTelegraph, the new fund is based on the XRP Ledger (XRPL) and provides eligible investors with blockchain-based access to a regulated US dollar liquidity fund.
The tokenized share class allows investors to access the fund while keeping traditional custody arrangements. This move is significant as it combines the benefits of blockchain technology with traditional investment structures.
The XRP Ledger is a decentralized, open-source blockchain platform that enables fast and low-cost transactions. Aviva Investors' decision to use XRPL for its tokenized fund highlights the potential of blockchain technology in the investment industry.