Crypto solutions provider Ripple and Aviva Investors, the asset management arm of insurance company Aviva, have announced a partnership to tokenise traditional fund structures. The vision is to bring tokenised funds to Ripple’s XRP Ledger (XRPL).
XRPL is a decentralised, open-source public blockchain that Ripple claims is built for fast, low-cost, and sustainable global financial transactions. It will enable Aviva Investors to issue and manage tokenised funds using secure blockchain transactions in an energy efficient manner – without the need to mine to settle transactions.
The partnership with Aviva Investors is a part of Ripple’s larger effort to bring traditional financial assets with real utility to the ledger. For Aviva Investors, the aim is to bring tokenised solutions into its existing product offering.
The initiative is the first of its kind for both parties. It is Ripple’s first collaboration with an investment management firm based in Europe and Aviva Investment’s first foray into tokenisation.
