Aviva Investors Issues First Tokenized Money Market Fund on the XRP Ledger

The UK-based asset management firm Aviva Investors has launched its first-ever tokenized money market fund (MMF) share class, partnering with Ripple to run the US dollar (USD) Liquidity Fund on the XRP Ledger. The Central Bank of Ireland approved the Undertakings for Collective Investment in Transferable Securities (UCITS) fund in the existing money market. The other share class funds under the asset management stand at $1.23 billion.

Also Read: XRP Has Seen ‘Major Bull Rallies’ Only 5 Times in 12 Years

XRP Ledger: Aviva Investors Enters the Tokenized Sector For Funds

Reports suggest that Aviva Investors will first deploy $1.34 million into the tokenized XRP Ledger. Aviva Investors described the partnership with Ripple as “a scalable foundation for future innovation in fund distribution and market infrastructure.” This is a new feather in the cap of Ripple, as the XRP Ledger is making its way through the financial sector. This can also help XRP in the charts and make it surge in value with its expanding use cases.

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