Forward Industries, Inc. (NASDAQ: FWDI) (the "Company" or "Forward"), the leading Solana treasury company, today announced a strategic investment in OnRe, a regulated onchain reinsurance company, alongside RockawayX, the global multi-strategy digital asset investment firm. The two firms co-led OnRe's $5 million Series A round. Separately, 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 both the Bermuda Insurance Act and the Digital Asset Business Act. Its yield-bearing real-world asset (RWA) token, ONyc, gives onchain participants exposure to a diversified portfolio of underwritten reinsurance risk, an asset class that has historically been the domain of large institutional allocators. ONyc is integrated across Solana’s leading DeFi venues, where it can be used as collateral for lending, borrowing, and looping strategies.
“Forward’s investment in OnRe and ONyc marks a natural extension of our Solana treasury strategy—expanding beyond native staking yield into high-quality, real-world cash flows that are both complementary and uncorrelated. By gaining exposure to reinsurance through a tokenized, on-chain structure, we’re unlocking a new layer of durable, dollar-denominated income while remaining fully aligned with the Solana ecosystem. We view OnRe and ONyc as a blueprint for where institutional capital is going—real-world assets, structured and distributed on high-performance blockchains like Solana.” said Ryan Navi, Chief Investment Officer of Forward Industries. “This is a foundational step in our long-term vision to evolve Forward into the “Berkshire Hathaway of Solana”—allocating capital across a diversified set of high-return opportunities that compound value for shareholders over time.”
“We seeded OnRe, validated it as an early underwriter, and provided initial liquidity through our credit division, before scaling capital through our curated vaults,” said Viktor Fischer, CEO of RockawayX. “Watching OnRe grow from zero into a flagship RWA on Solana shows how much demand there is for new onchain yield sources and how quickly the best products can scale.”
Forward’s investment and deployment in OnRe aligns with the company’s goal to leverage the Solana ecosystem to generate revenue and shareholder value. The company views tokenized RWAs as one of the most durable growth areas in onchain capital markets, and believes Solana’s throughput and institutional traction make it the natural infrastructure for that activity. By both investing in and deploying on OnRe, Forward is positioning itself to capitalize on continued demand for tokenized RWAs while simultaneously adding a USD-denominated non-correlated revenue stream to complement its existing SOL-focused strategies — directly supporting Forward’s goal of diversifying its treasury income and finding high quality, durable yield in excess of our cost of capital which will not only accelerate Forward’s ability to compound shareholder value, but also improve its resilience.
OnRe will use the proceeds of the fundraise to scale underwriting capacity, deepen protocol integrations across the Solana ecosystem, and support team expansion. Forward’s ONyc deployment is expected to generate ongoing yield income for its balance sheet, which the company believes will contribute to long-term shareholder value by building a diversified, yield-generating treasury alongside its core SOL holdings.
"This round marks the beginning of OnRe's scaling phase," said Dan Roberts, Co-Founder and CEO of OnRe. "We are focused on expanding liquidity, strengthening infrastructure, and driving global distribution through strategic partnerships. Forward is a key addition to this strategy and, alongside our deepening alignment with RockawayX, is well positioned to support our growth in the years ahead."
The OnRe investment follows earlier strategic initiatives by Forward including its Solana validator, the launch of fwdSOL, and the tokenization of FWDI shares through Superstate, and reflects the Company’s conviction in the network and its intent to remain active across the ecosystem.
