Ripple invests in 2 firms to scale XRPL tokenized fund infrastructure

Ripple invested in ZILO and Licuido on Aug. 3, adding regulated transfer agency, issuance, and collateral mobility to XRP Ledger infrastructure.

"Tokenization alone is not enough," Nigel Khakoo, senior vice president of trading and markets at Ripple, said. "The real value comes from enabling digital assets to be traded, settled, and deployed as collateral in real time."

ZILO supplies transfer agency and fund administration technology, letting asset managers and custodians maintain compliant ownership records for tokenized share classes. Licuido operates a platform for regulated issuance, distribution, trading, and collateral mobility, with tokenized fund units designed for use as collateral. RLUSD, Ripple's U.S. dollar-backed stablecoin, will serve as the cash leg for delivery-versus-payment settlements on XRPL, allowing tokenized assets and payment to settle simultaneously.

The investments follow Aviva Investors' tokenization of its U.S. Dollar Liquidity Fund on XRPL on July 29 and come as Ripple's valuation has climbed to $50 billion. Ripple is also building infrastructure connected to the DTCC ecosystem, where the Fixed Income Clearing Corporation processes more than $1.2 trillion in U.S. Treasury transactions each day.

ZILO and Licuido fill two gaps in the tokenized fund stack

ZILO launched an integrated platform combining traditional transfer agency with digitally native asset issuance. Its configuration tools translate fund rules, share classes, and jurisdictional requirements into onchain logic, recording legal ownership as assets move. Licuido Markets Limited operates as an appointed representative of Sapeno Partners LLP, which the U.K. Financial Conduct Authority authorizes and regulates.

Phil Goffin, ZILO's chief executive, said Ripple's investment will accelerate development of compliant infrastructure for tokenized funds. Brian Lynch, Licuido's chief executive, noted that meaningful liquidity depends on assets circulating freely within regulated markets rather than remaining dormant.

Institutional deployments already underway

Ripple's partnerships with Aviva Investors, Franklin Templeton, and DBS show where the combined stack may be deployed. DBS listed Franklin Templeton's sgBENJI money market fund token beside RLUSD and plans to explore lending and repurchase transactions using tokenized units as collateral. Ripple said ZILO and Licuido are among partners supporting issuance, distribution, custody, and further uses for Aviva's tokenized fund structures.

XRPL has processed more than four billion transactions since 2012, supports more than seven million active wallets, and is maintained by 120 independent validators. Ripple did not disclose the size of either investment or the ownership stakes received.

The next steps depend on technical integrations and client launches. Neither company published a deployment date, and Ripple has not confirmed which funds will use the combined stack. Future disclosures will need to show whether RLUSD gains measurable settlement volume and which regulated activities Licuido performs under its principal firm.

This article is for informational purposes only and does not constitute investment advice.