TL;DR
- OnRe introduces ONyc, evolving ONe into a multi-collateral, yield-bearing asset built on stablecoins.
- 16% base APY, combining returns from premiums in RWAs and tokenized treasures into a single, liquid, composable asset.
- sUSDe anchors the collateral base, with additional integrations coming this year to deepen diversification and accelerate stablecoin adoption.
- Purpose-built to drive stablecoin utility across DeFi and traditional markets.
OnRe, today unveiled ONyc, the evolution of its flagship product, ONe. ONyc expands from single-asset collateral to a multi-collateral approach that funds real-world underwriting at scale. The on-chain yield coin is built so stablecoins no longer sit idle but instead work as productive collateral, funding RWAs, generating transparent yield, and scaling with institutional demand.
With regulated underwriting and secure asset custody as the foundation, ONyc adds multi-collateral flexibility. This unlocks deeper liquidity, better composability, and a broader network of partners across DeFi and traditional markets.
ONyc targets a 16% base yield, generated by reinsurance performance that remains uncorrelated across market cycles. Alongside this base yield, collateral assets contribute additional returns, creating a compound, multi-source yield designed to perform consistently and capture upside as markets evolve.
“Stablecoins dominated payments volume and paved the way for tokenized treasuries,”
said Ayyan Rahman, Co-Founder and Chief Growth Officer at OnRe.
“Now, they’re ready to move past passive balances to become reliable funding tools for real-world finance. We see the next phase of DeFi anchored by assets that generate sustainable yield and have real utility. ONyc is meant to be one of the first places where stablecoins back RWAs in a way investors can rely on.”
The first layer of collateral is sUSDe, integrated through OnRe’s partnership with Ethena. sUSDe provides a stable, transparent yield that can be verified on-chain in real time, giving investors clear visibility and reinforcing trust in both the asset and the ecosystem behind it.
With the passage of the Genius Act, OnRe is well positioned to adopt stablecoins as core collateral and expand its underwriting capabilities. The team has worked closely with regulators to develop a thoughtful approach to underwriting policies backed by widely used assets, setting the stage for ONyc to evolve. Looking ahead, the roadmap focuses on growing ONyc beyond a single stablecoin reserve by adding diversified collateral that broadens utility and makes real-world yield more accessible.
ONyc sits within a broader shift as private credit emerges as the fastest-growing segment of tokenized RWAs. Recent research from RedStone highlights how institutional allocators are drawn to on-chain credit because it combines transparent yield with regulated collateral structures. By combining reinsurance returns and tokenized treasuries, OnRe is building a foundation that scales with demand and positions stablecoins as credible funding tools for RWAs.
For allocators, protocols, and treasuries ready to put stablecoins to work, ONyc is built to meet that moment. Institutional investors can onboard through the OnRe app to complete KYC and mint positions directly into real-world reinsurance exposure. For on-chain native DeFi users, ONyc is available on Orca, offering 24/7 liquidity to trade in and out with ease. More integrations are coming soon as OnRe continues to accelerate stablecoin adoption across DeFi and traditional markets.
About OnRe
OnRe bridges the reliability of the $750B global reinsurance market with the transformative power of blockchain. Licensed to deploy digital assets as insurance collateral, OnRe provides a new class of investors with direct access to consistent real-world yield through structured products designed to generate returns in both bull and bear markets—creating a return profile not replicable in traditional finance. With a focus on transparency, scalability, and capital efficiency, OnRe is transforming how capital is deployed, bringing opportunity to a system that has historically been out of reach.
OnRe is a trading name of On Re SAC Ltd., which is authorised and regulated by the Bermuda Monetary Authority. OnRe holds a Class F licence under the Digital Asset Business Act 2018 and a Class IIGB licence under the Insurance Act 1978.
ONyc is intended for eligible accredited investors. Capital at risk. Trading on Orca occurs independently of OnRe.
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