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Forward Industries and RockawayX Co-Lead Strategic Investment in OnRe to Accelerate Onchain Reinsurance on Solana

FWDI
  • Forward Industries (NASDAQ: FWDI) co-led OnRe's $5 million Series A round alongside RockawayX.
  • Forward intends to deploy up to $25 million into ONyc, OnRe's yield-bearing token on Solana.
  • OnRe is a Bermuda-licensed reinsurance company regulated under the Bermuda Insurance Act & Digital Asset Business Act.
  • ONyc provides onchain exposure to a diversified portfolio of underwritten reinsurance risk & integrates with Solana DeFi venues for lending, borrowing, & looping.
  • Ryan Navi, CIO of Forward, stated the investment extends their Solana treasury strategy into uncorrelated, real-world cash flows.
  • The company aims to evolve into the "Berkshire Hathaway of Solana" by allocating capital across diverse high-return opportunities.
  • OnRe will use the fundraise proceeds to scale underwriting capacity, deepen Solana protocol integrations, & expand the team.
  • Forward views tokenized RWAs as a durable growth area & Solana as the natural infrastructure for institutional activity.
  • The investment follows Forward's prior initiatives including its Solana validator, fwdSOL launch, & FWDI share tokenization via Superstate.
  • OnRe connects alternative capital with the $800B global P&C reinsurance market through its collateralized reinsurer model.
  • RockawayX has over $1.5 billion in assets under management & has backed 100+ early-stage crypto projects since 2018.
  • Forward's strategy includes buying, holding, staking, & trading SOL to strengthen the Solana ecosystem & increase shareholder value.