Ireland's Central Bank Just Approved Its First Tokenized Fund on a Public Blockchain — It Landed on XRP Ledger

The Central Bank of Ireland has approved a tokenized fund structure on a public blockchain for the first time in EU history. Asset manager Aviva Investors, together with Ripple, launched a tokenized share class of its Aviva Investors USD Liquidity Fund on the XRP Ledger.

• The fund is an Ireland-domiciled UCITS money market fund invested in high-grade, USD-denominated short-term debt; the tokenized share class carries the same investment objectives, risk profile and regulatory protections as the conventional one
• Aviva Investors manages roughly $310 billion in assets as of 2025
• BNY Mellon custodies the fund's underlying assets, Komainu provides regulated digital-asset custody for the tokens, and Licuido supplies the tokenization technology
• Institutional investors will be able to hold fund shares through digital wallets

“A regulated, institutional-grade tokenized product can be brought to market on live infrastructure with real investor protections in place.”

— Nigel Khakoo, SVP, Ripple

“A significant development for the investment industry.”

— Mark Versey, CEO, Aviva

The approval's significance goes beyond a single product: it's the first time a major EU regulator has signed off on a tokenized fund structure on a public blockchain rather than a closed, private network. For other Irish and EU asset managers, this is no longer a theoretical framework but a live compliance precedent, materially lowering the perceived regulatory risk of similar initiatives. Ripple has been building out its European regulatory footprint methodically — it already secured a full CASP license in Luxembourg under MiCA. More detail on the deal is available via Yahoo Finance.

This piece is informational, not a recommendation to buy, sell, or hold any asset.