How will Apex Group verify the reinsurance token holdings of ONyc

Source: Yellow Original Title: How Apex Group Will Verify ONyc’s $250 Million Reinsurance Token Holdings

Original Link: Bermudian company OnRe announced on Thursday that it has appointed Apex Group as an independent assurance provider for ONyc, its tokenized reinsurance vehicle.

Apex Group will perform periodic independent attestations of the net asset value and treasury balances of ONyc.

The firm will publish monthly assurance reports for token holders.

What happened

As part of the agreement, Apex Group will verify ONyc’s reported positions and valuations against the underlying reinsurance positions and treasury holdings.

The attestations cover assets held both in traditional financial accounts and blockchain infrastructure.

OnRe operates under the supervision of the Bermuda Monetary Authority, with authorizations in accordance with the Digital Asset Business Act and the Insurance Act.

ONyc was launched in July 2025 as a yield token with multiple guarantees aiming for a base return of 16% from reinsurance premiums.

The token operates on Solana and has integrated DeFi protocols, including Kamino and Chainlink.

Why it matters

The appointment brings traditional financial oversight standards to a tokenized reinsurance product.

“Appointing Apex Group formalizes the separation between capital deployment and verification,” said Dan Roberts, co-founder and CEO of OnRe.

Apex Group manages over $3 trillion in assets under administration and provides fund administration services to asset managers.

Daniel Coheur, Global Head of Digital Assets at Apex Group, stated that the firm will apply consolidated standards for portfolio reporting.

The move addresses the transparency concerns of institutional investors considering tokenized real-world assets.