What to know:
- Invested in ZILO (transfer agency) and Licuido (collateral mobility) with RLUSD for settlement on XRPL.
- Lets funds be pledged as repo collateral, not sold.
- Already used for Aviva’s tokenized fund live on XRPL since July 2026.
Ripple is focusing on an untapped section of tokenized funds. Through equity investments in ZILO and Licuido which are two UK infrastructure firms, the company is bridging the issuance of fund shares based on XRP Ledger to their usage in the capital market by making RLUSD as the cash leg.
Funded Tokenization Gap Closing
What ZILO and Licuido do Tokenized funds are often being created and then kept in storage without much activity. ZILO is a company providing transfer agency software that keeps a record of legally owned shares, handles subscription and redemption, and changes the fund rules and share classes into smart contract logic.
Licuido, an FCA-regulated platform, manages the issuance and collateral mobility, thereby allowing institutions to put their fund shares into repo borrowing without having to sell them during margin tightening.
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Institutional RWA and its Importance
The agreement simply confirms the work already done. Aviva Investors USD Liquidity Fund was launched on XRPL back on July 29, 2026 by Licuido and it was a tokenized fund that was the first public blockchain-backed fund licensed by the Central Bank of Ireland.
Source: Ripple
Portfolio holding was assigned to BNY Mellon, Komainu as the custodian. Settlement is just 3 to 5 seconds. DefiLlama reckons tokenized treasuries are over $8.5 billion yet collateral utilization remains under 5%, the bottleneck that Ripple is targeting in its solution.
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What’s In Store for XRPL
The offering is one-stop for asset managers custodians exchanges and regulators: ZILO for regulation, Licuido for movement, RLUSD for payment. XRP demand is not a direct result of these.
The outcome heavily depends on fund usage, legal authorizations and the amount of RLUSD settlement. Ripple is taking the bet that tokenization value is not in creating assets but in allowing the use of assets in regulated financing.
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