Oxbridge Re Holdings Limited Selects Coinbase Prime to Facilitate the Purchase and Secure Custody of Bitcoin and Ethereum as a Treasury Reserve Asset

GRAND CAYMAN, Cayman Islands, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), together with its subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (“RWAs”), initially with tokenized reinsurance securities, and in providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, today announced it has selected Coinbase Prime to facilitate the purchase and secure custody of Bitcoin and Ethereum along with potentially other cryptocurrencies as a treasury reserve asset.

Insurance holding company Oxbridge Re Holdings (NASDAQ:OXBR) has selected Coinbase Prime to facilitate the purchase and secure custody of Bitcoin and Ethereum.

Oxbridge Re, together with its Web3-focused subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (RWAs), initially with tokenized reinsurance securities.

The company also provides reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States.

Oxbridge Re recently announced that it has set aside a portion of its treasury to purchase Bitcoin and Ethereum, among other cryptocurrencies, as an inflation hedge.

What Happened: Oxbridge Re’s collaboration with Coinbase highlights the company’s commitment to integrating cutting-edge blockchain solutions into its financial framework.

Through this partnership, Oxbridge Re will leverage Coinbase’s expertise in the digital asset market to securely manage its cryptocurrency investments.

Jay Madhu, CEO of Oxbridge Re, commented on the collaboration, stating, “Our collaboration with Coinbase underscores our commitment to integrating cutting-edge blockchain solutions into our financial framework.”

“By working with Coinbase, we are confident in our ability to securely manage digital assets while paving the way for new investment opportunities that align with our blockchain vision.”

Ryan Ballantyne, Institutional Sales Manager of Coinbase, also shared his thoughts on the partnership.

“Oxbridge / SurancePlus’ decision to include Bitcoin and Ethereum as a treasury reserve asset highlights the increasing alignment between traditional finance and blockchain technology.”

“We look forward to supporting their Bitcoin and Ethereum investment and innovative approach to integrating blockchain into real-world applications (RWAs).”

“Selecting Coinbase Prime ensures a trusted and secure platform for buying and storing their crypto investments.”

Why It Matters: Oxbridge Re’s adoption of Bitcoin and other cryptocurrencies as a treasury reserve asset demonstrates the growing acceptance and integration of digital assets within the traditional finance landscape.

The company’s innovative approach, combining Web3 and insurance, aligns with the broader trend of institutional interest in cryptocurrencies.

This move by Oxbridge Re is expected to pave the way for further collaboration between the insurance and blockchain industries.

Price Action: OXBR shares closed lower by 0.86% at $11.58 on Friday.