Ripple invests in ZILO and Licuido to add regulated transfer agency, issuance, and collateral mobility on XRPL after Aviva’s tokenized USD Liquidity Fund launch. Details on infrastructure, RLUSD, and institutional tokenization.
Ripple announced strategic investments on August 3, 2026, in UK-based firms ZILO and Licuido to expand regulated transfer agency, digital issuance, and collateral mobility on the XRP Ledger. The moves build on existing partnerships and follow Aviva Investors’ launch of a tokenized share class of its US Dollar Liquidity Fund on XRPL, the first such structure approved by the Central Bank of Ireland on a public blockchain. Ripple’s RLUSD stablecoin will serve as the regulated cash leg for atomic delivery-versus-payment settlements.
Ripple Takes Equity in ZILO (2020) & FCA-Licensed Licuido for XRPL Tokenized Collateral
Ripple is converting commercial partnerships into equity stakes in ZILO, a transfer agency and fund administration technology provider founded in London in 2020, and Licuido, an FCA-regulated tokenization and trading platform. Financial terms were not disclosed.
ZILO’s platform supports tokenized share classes alongside traditional fund units, handling issuance, settlement, reconciliation, payments, corporate actions, and regulatory reporting for asset managers, custodians, and transfer agents. Its clients include State Street (which selected it for UK fund register business and invested), Citi, and Fidelity International. ZILO launched an integrated digital transfer agency platform in 2026.
Licuido focuses on issuing, distributing, executing, and enabling tokenized traditional assets (including fund shares) as digital collateral via on-chain atomic settlement. It already provided tokenization infrastructure for the Aviva Investors deployment.
Together with Ripple’s infrastructure—covering issuance, custody, collateral utility, multi-currency investment, and atomic settlement—the investments aim to let institutions use tokenized funds as collateral from issuance rather than leaving them idle. Nigel Khakoo, Ripple’s SVP of Trading and Markets, stated: “Tokenization of assets is only the starting point: the real value lies in what can be done with a token, including buying, selling, and settling trades instantly, or using it as collateral to borrow, lend, or post margin.” Phil Goffin (ZILO founder and CEO) and Brian Lynch (Licuido CEO and co-founder) highlighted accelerated digital market utility and scaling of collateral marketplaces on XRPL.
XRP Holds Near $1.07 as XRPL Assets Hit $4.3B
The announcement reinforced institutional momentum on XRPL amid growing tokenized real-world asset (RWA) activity, though specific short-term XRP price impact was limited in immediate coverage. XRP traded near $1.06–$1.08 around the news. Broader context includes XRPL’s tokenized assets reaching approximately $4.3 billion (up sharply from ~$73 million in early 2025), alongside RLUSD’s market capitalization of roughly $1.55–$1.6 billion. The deals signal deeper integration of regulated fund servicing and collateral mobility, areas seen as critical for scaling beyond pure tokenization. XRP ETF inflows and network usage metrics provided additional backdrop for institutional interest.
Ripple Expands XRPL Tokenized Asset Ecosystem
Global capital markets infrastructure predates institutional digital assets, leading to idle collateral, slower settlements, and limited liquidity mobilization. Ripple positions its XRPL-based stack to address this with fast, low-cost, energy-efficient transactions and compliance tools.
Since 2012, XRPL has processed more than four billion transactions, supports over seven million active wallets (with accounts exceeding 8.4 million in recent data), and operates via around 120 independent validators. Tokenized assets on the ledger have grown substantially, with distributed and represented RWAs contributing to the ~$4.3 billion figure; stablecoins including RLUSD add further on-chain value.
The investments build directly on Ripple’s collaboration with Aviva Investors (announced earlier in 2026 and live on July 29, 2026). The Aviva Investors USD Liquidity Fund—a UCITS money market fund launched traditionally in 2020 targeting low-risk returns and daily liquidity via high-grade short-term USD debt—now has a tokenized share class on XRPL. It uses a digital twin structure (tokens linked to traditional shares), with BNY Mellon custodianship of underlying assets, Komainu for digital custody, and Licuido for tokenization infrastructure. Central Bank of Ireland approval marked a regulatory first for a tokenized fund structure on a public blockchain. Ripple has also partnered with Franklin Templeton and DBS on tokenized fund efforts.
Ripple Partnerships Target Real-Time Collateral Use of Tokenized Funds on XRPL Over Next Decade
The partnerships are expected to accelerate regulated digital transfer agency, issuance, distribution, custody, and collateral use cases for tokenized funds on XRPL. Institutions can potentially pledge tokenized fund shares for real-time credit, borrowing, lending, or margin without traditional multi-day settlement frictions. Ripple and partners aim to scale these capabilities for asset managers and issuers, with Khakoo noting substantial efficiency opportunities for the investment sector over the next decade. Further tokenized fund structures and expanded collateral marketplaces on XRPL are anticipated as the infrastructure matures.