Re Protocol reUSD

Re Protocol reUSD is a deposit token issued by Re Protocol, a platform that tokenizes exposure to reinsurance risk. Reinsurance is the business of insuring insurers, and it has historically been accessible only to institutional capital. Re Protocol's stated aim is to make that exposure available on chain.

How reUSD works

Re Protocol offers two deposit tokens with different risk profiles. reUSD is the principal-protected, fixed-yield option, targeting a return set as a spread over a reference rate. The companion token, reUSDe, is the risk-bearing option with a variable yield that can be higher but carries exposure to underwriting losses. Capital deposited into the protocol is deployed into decentralized underwriting pools that back insurance contracts, and returns are derived from insurance premiums rather than from lending or trading activity.

The token is issued across several networks, with categorisation listing Ethereum, Avalanche, Arbitrum, Base, Solana, BNB Chain, and Ink ecosystems. There is no fixed maximum supply; tokens are minted on deposit and burned on redemption, so supply tracks the capital in the protocol. Roughly 173 million reUSD are currently outstanding.

Role in the ecosystem

reUSD sits at the intersection of stablecoins and real-world assets. Unlike fiat-backed stablecoins whose reserves are cash and treasuries, its backing is tied to insurance underwriting, which introduces a different kind of risk: losses depend on claim events rather than on interest rates or credit spreads. Anyone evaluating it should understand that the principal protection described by the protocol is a structural feature of its design, not a government guarantee.