Who controls it
Re Protocol controls a yield-accruing token backed through custody wallets, trust accounts and reinsurance-capital structures. KYC and actuarial liquidity limits govern direct redemption.
- Backing
- Stablecoin and real-world assets allocated through reinsurance-capital structures and trust accounts.
- Holder’s claim
- reUSD is a protocol claim on reinsurance capital that accrues yield. It is neither a demand deposit nor a token backed by cash equivalents.
- Redemption or sale
- Minting and redemption require KYC and are limited by the cash on hand, obligations to pay insurance claims, and protocol terms.
Dependencies
- Re Protocol operating entity
- Fireblocks or multisig custody
- Trust accounts and insurance counterparties
- KYC and actuarial liquidity limits
Losses and incidents
- We found no control, reserve, or redemption incident in the sources we reviewed.
Advisor notes
Controlling party: Re Protocol operators, custody wallets, trust structures, and governance. Check whether the client can redeem directly with the issuer. Holding the token on chain leaves every reserve, custody, contract, and legal dependency in place.
A named organization or administrator controls issuance, transfers, reserves, redemption, or address restrictions. This grade can sit beside a sound reserve, a useful product, or a fitting role in a client account. It records who can act on the token and passes no judgment on the product.
Questions before use
- Does the exact contract and chain match the instrument reviewed here?
- Which party can mint, burn, pause, upgrade, block, or redeem?
- Does the client have direct redemption access or only secondary liquidity?
- What protocol, bridge, wallet, and custodian dependencies are added?
- Which event would force a review or a sale?
Sources
- Re Protocol: Redemption process and liquidity · primary
- Re Protocol: Smart-contract addresses and custody roles · primary
- DefiLlama: Stablecoins circulation dataset · secondary
Issuers can change their documents and product terms. This page gives our reading of control as of 2026-08-19. Check the current terms before a client buys.
Legend: No freeze key: no issuer or administrator can freeze an address at this layer · Governed, no freeze: on-chain collateral and governance set the terms, but no issuer blocklist exists · Mixed control: on-chain mechanisms sit beside custodians, real-world assets, a central transaction orderer, or other parties a court or regulator can compel · Issuer can freeze: a named organization or administrator controls issuance, transfers, reserves, redemption, or address restrictions. How grading works.