Coin columns · Ethereum City (Capital)
Re Protocol reUSD: A Dollar Token Earning Reinsurance Yield
An accruing token from the onchain reinsurer Re
reUSD is a dollar-denominated token that earns yield by funding reinsurance (insurance that insurers buy to share their own risks). It is issued by the onchain reinsurance protocol Re and, unlike a typical stablecoin, gains value as yield builds up.
1. Re: linking reinsurance and DeFi
Re connects blockchain capital to real reinsurance underwriting; its founder and CEO is Karn Saroya. The protocol is operated by Resilience Foundation Cayman LLC, while the actual reinsurance contracts are written by a licensed Cayman Islands reinsurer, Cover Reinsurance SPC Ltd., known as Cover Re. reUSD is a deposit token issued by Resilience Foundation.
On the Crypto Nation map, reUSD stands in Ethereum City (the capital), because it was first issued on Ethereum. In June 2026 a strategic investment from Coinbase Ventures was announced, with the amount undisclosed.
2. A token whose value accrues
Users deposit a dollar coin such as USDC and receive reUSD. According to Re, part of the money stays on-chain to meet redemptions, and the rest is used off-chain as collateral for reinsurance treaties. Yield is not paid out separately; it shows up as a slowly rising reUSD price, tied to short-term US money-market rates (SOFR) plus a spread.
Funds are split into layers called tranches. reUSD is the top, senior layer, with the reinsurer’s own capital and the higher-yield reUSDe layer beneath it, so it is designed to be steadier and to earn less. reUSDe aims for a higher return in exchange for redemptions limited to quarterly windows.
3. Uses and milestones
reUSD is used on Ethereum, Base, Avalanche and Arbitrum. For the fourth quarter of 2025 Re reported a completed audit by Certora, a Chainlink proof-of-reserve integration, instant redemptions, use as collateral on the lending service Silo Finance, and yield markets on Pendle.
Re said it closed more reinsurance deals in 2025 than a year earlier. Announcing the Coinbase Ventures investment in June 2026, it said the money would go to underwriting capacity, a bigger team and wider reUSD adoption. reUSD can be deposited with USDC on Base, but only for non-US persons in certain regions.
4. Things to know
Despite the USD in its name, reUSD is less a fixed one-dollar stablecoin than an investment-style token that carries reinsurance risk. Re itself says it falls outside the US stablecoin law, the GENIUS Act. If disasters push insurance payouts up sharply, capital can shrink, and a senior position is not complete protection.
Most funds are tied up in off-chain contracts, so redemptions depend on reserve levels and on regulatory approval to release collateral. The Cayman legal structure and off-chain contracts are hard for ordinary users to verify, and smart-contract bugs are another risk. Yields also move with interest rates, and sales are limited by region.
Written from information public up to October 2026. It does not recommend or rate any coin and is not investment advice. If something is wrong, please tell us through the contact page.