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Markets ·

The £22bn fund has a new door. Mind the headline.

On 26 October 2026, Aviva Investors and Ripple announced a tokenised share class of Aviva’s Sterling Liquidity Fund on the XRP Ledger. The £22bn figure describes the whole fund, not money newly moved on-chain. Aviva says it invested £50m in the new class. Its digital-twin model represents holdings on-chain while retaining the existing off-chain fund structure.

Illustrated royal verdict: The ledger has a digital twin. Excellent: two versions of the accounts for my treasurer to explain, and still only one crown.
Satirical illustration · Published 27 October 2026
HIS MAJESTY’S ASSESSMENT · OPINION
The ledger has a digital twin. Excellent: two versions of the accounts for my treasurer to explain, and still only one crown.

The receipts

A DISPATCH FOR THE MASSES

Steal this decree.

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AN AUDIENCE WITH THE POND

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This is the 27 October 2026 edition. Facts may have developed since publication. Read the latest briefing →