Oxbridge And Zoniqx Announces Strategic Collaboration Aiming To Further Expand The Footprint Of SurancePlus By Leveraging Blockchain Technology To Tokenize Reinsurance Contracts And Facilitate Their Deployment On Blockchain Ecosystems
Portfolio Pulse from Benzinga Newsdesk
Oxbridge Re Holdings Limited (Nasdaq: OXBR) announced a strategic collaboration with Zoniqx to expand the footprint of its subsidiary, SurancePlus, by leveraging blockchain technology to tokenize reinsurance contracts. SurancePlus also completed a private placement raising approximately $2.88 million.
July 17, 2024 | 12:21 pm
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Oxbridge Re Holdings Limited (OXBR) has announced a strategic partnership with Zoniqx to tokenize reinsurance contracts using blockchain technology. Additionally, its subsidiary SurancePlus raised $2.88 million through a private placement.
The partnership with Zoniqx and the successful private placement are likely to positively impact OXBR's stock price in the short term. The use of blockchain technology to tokenize reinsurance contracts could be seen as an innovative move, attracting investor interest.
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