Re Integrates Chainlink Proof of Reserve

Chainlink announced via X on Wednesday that the decentralized reinsurance protocol Re has integrated Chainlink Proof of Reserve on Arbitrum, Avalanche, Base, and Ethereum.

The integration will increase transparency around the collateral backing reinsurance contracts on its platform. Proof of Reserve delivers near real-time onchain verification to help ensure that contracts are fully collateralized with regulated offchain capital.

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up 3.75% over the past 24 hours and is trading at $18.13 at press time.