Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), together with its subsidiaries which is engaged in the business of tokenized Real-World Assets (“RWAs”) initially in the form of tokenized reinsurance securities, and reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, announced that its Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has signed a partnership agreement with Zoniqx, a pioneer in digital asset management who previously announced a partnership with Ripple and PwC as part of their Tokenization & Digital Assets Scale program. This collaboration aims to further expand the footprint of SurancePlus as it revolutionizes the reinsurance industry by leveraging blockchain technology to tokenize reinsurance contracts and facilitate their deployment on blockchain ecosystems.
Additionally SurancePlus Inc., a subsidiary of Oxbridge, completed a private placement of 287,705 Participation Shares represented by the digital tokens, EpsilonCat Re under a 3-year Participation Share Investment Contract, raising approximately $2.88 million. The offering is the second year of the Cat Re series. The tokens have been issued on the Avalanche blockchain and have a targeted 42% return.
SurancePlus previously reported a remarkable 49.11% return on its DeltaCat Re tokenized reinsurance security, surpassing initial projections. This success underscores the potential of digital innovations in reinsurance and sets a positive precedent for future offerings like the EpsilonCat Re token.
The EpsilonCat Re tokens were offered to United States (“US”) accredited investors under Rule 506(c) of US Securities and Exchange Commission (SEC) Regulation D and to non-US investors pursuant to Regulation S of the US Securities Act 1933, as amended.
Jay Madhu, President and CEO of Oxbridge Re, commented: "Last year, SurancePlus incorporated digital innovations and Web3 insights, democratizing access to reinsurance as an alternative investment. We believe we were the first publicly traded company to raise capital for catastrophe reinsurance risks through the sale of tokenized reinsurance securities. Building on that success, we are delighted to have partnered with Zoniqx and we believe their state-of-the-art tokenization and digital asset lifecycle management offerings will also further enhance our RWA Tokenization and Web-3 capabilities. We have also closed our 2024 EpsilonCat Re offering and are targeting returns of approximately 42%’’.
Co-Founder and CBO of Zoniqx, Sanjeev Birari, said: "This collaboration with Oxbridge Re and SurancePlus marks a significant milestone in advancing RWA tokenization. By leveraging our state-of-the-art TALM system and the DyCIST protocol, we are showcasing the reliability and versatility of our asset-agnostic technology in the reinsurance industry. Partnering with a listed NASDAQ company like Oxbridge Re speaks volumes about the robustness of our solutions. This partnership enhances transparency, security, and efficiency in the tokenization of reinsurance securities, validating our vision and unlocking new opportunities for investors. We're thrilled to bridge traditional finance with digital ecosystems, reshaping the future of digital asset management and driving accessibility in financial markets."
About Zoniqx
Zoniqx, ("Zoh-nicks") formerly known as Tassets, stands as a beacon in financial technology from Silicon Valley, specializing in Tokenization Platform as a Service (TPaaS). It adeptly transforms Real World Assets into Digital Assets. The cornerstone of its offerings, the Tokenized Asset Lifecycle Management (TALM) solution, embraces the DyCIST - Dynamic Compliant Interoperable Security Token Protocol built on ERC-7518 standard, ensuring utmost security and scalability. Central to Zoniqx's ecosystem is SecureConnect, a groundbreaking platform that seamlessly bridges asset tokenization with institutional liquidity, amplifying market reach and ensuring compliance. This synergy positions Zoniqx not just as a provider but as an innovator at the forefront of digital asset transformation. Zoniqx offers an interoperable, compliant infrastructure for the RWA tokenization market, enabling global liquidity and DeFi integration through its end-to-end ecosystem of SDKs and APIs. Zoniqx pioneers on-chain, fully automated RWA deployment on public, private, and hybrid chains. To explore how Zoniqx can assist your organization in unlocking the potential of tokenized assets or to discuss potential partnerships and collaborations, please visit their contact page.
About Oxbridge Re Holdings Limited
Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge Re”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited.
Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.
Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors.
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