Ripple invests in 2 UK firms to scale XRPL tokenized funds

Ripple's investments in ZILO and Licuido extend its push to bring regulated tokenized fund infrastructure to the XRP Ledger.

Ripple invested in two UK firms, ZILO and Licuido, on Aug. 3 to expand regulated tokenized fund infrastructure on the XRP Ledger. The deals add transfer agency, token issuance and collateral mobility tools as asset managers begin moving real investment products onchain.

"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," Nigel Khakoo, senior vice president of trading and markets at Ripple, said.

Ripple did not disclose either investment amount or the ownership stakes received. ZILO launched an integrated digital assets and transfer agency platform, while Licuido said Ripple's backing would help scale its infrastructure on XRPL. The XRP Ledger has processed more than four billion transactions since 2012 and supports more than seven million active wallets maintained by 120 independent validators.

The investments follow Aviva Investors launching a tokenized share class of its U.S. Dollar Liquidity Fund on XRPL on July 29, and Ripple's work with DBS and Franklin Templeton. Ripple plans to use RLUSD as the cash leg for delivery-versus-payment settlements, with tokenized funds usable as collateral from issuance onward.

ZILO and Licuido fill distinct gaps in fund infrastructure

ZILO supplies transfer agency and fund administration technology. Its new platform lets institutions manage conventional fund units and tokenized share classes within one operating system, covering issuance, settlement, reconciliation, payments, corporate actions and regulatory reporting without a separate technology stack for digital assets.

Licuido handles token issuance, distribution and secondary trading, with tokenized fund units designed for use as collateral. Licuido Markets Limited operates as an appointed representative of Sapeno Partners LLP, which the Financial Conduct Authority authorizes and regulates. The FCA sets an appointed representative's permitted activities and holds the principal firm responsible for that business.

ZILO founder and CEO Phil Goffin said the company's configuration tools translate fund rules, share classes and jurisdictional requirements into onchain logic. Licuido CEO and co-founder Brian Lynch said Ripple's backing helps scale the company's collateral marketplace on XRPL, "helping institutions turn assets that have sat idle on their balance sheets into liquidity they can actually use."

RLUSD anchors the settlement layer

Ripple plans to use RLUSD as the cash leg for delivery-versus-payment transactions, where the tokenized asset and payment settle together on XRPL rather than moving through separate systems. The company says tokenized funds could then become collateral from issuance onward.

The broader model mirrors Ripple's work with DBS, which 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 has not confirmed that ZILO and Licuido will support every Aviva, Franklin Templeton or DBS product.

Neither company published a deployment date or named participating asset managers. Future disclosures will need to show which funds use the combined stack, what regulated activities Licuido performs under its principal firm, and whether RLUSD gains measurable settlement volume. Until then, the investments expand Ripple's available infrastructure without establishing adoption, revenue or liquidity outcomes.

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