Key Takeaways:
- Forward Industries and RockawayX co-lead $5 million Series A in OnRe.
- Forward plans to deploy an additional $25 million into OnRe's ONyc token.
- The deal expands the tokenized real-world asset ecosystem on Solana.
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Forward Industries Backs OnRe With $25M Bet on Solana RWA Growth
Nasdaq-listed Forward Industries is co-leading a $5 million investment in onchain reinsurance firm OnRe, committing up to $25 million to its tokenized debt on Solana.
"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," said Ryan Navi, Chief Investment Officer of Forward Industries.
The deal announced Tuesday consists of a $5 million Series A round for OnRe, co-led by Forward Industries (NASDAQ: FWDI) and digital asset firm RockawayX. Separately, Forward’s board has approved the deployment of up to $25 million into ONyc, OnRe’s yield-bearing token that gives onchain investors access to a portfolio of reinsurance risk.
The investment marks a significant push into the tokenized real-world asset (RWA) sector on Solana, providing Forward with a non-correlated, dollar-denominated yield source. This diversifies its treasury beyond native SOL staking and aligns with its goal to become a "Berkshire Hathaway of Solana."
Solana's RWA Ecosystem Matures
The move comes as Solana's ecosystem shows signs of increasing institutional maturity. Data from BeInCrypto reveals that Solana's 30-day volatility has fallen to multi-year lows near 35.5%, a result of what analysts describe as a structural shift in ownership. Cumulative inflows into spot Solana ETFs have surpassed $1.02 billion since their October 2025 launch, while long-term holder supply has increased nearly five-fold since early March.
OnRe, a Bermuda-licensed reinsurer, fits into this evolving landscape by tokenizing reinsurance, an asset class traditionally dominated by large institutions. Its ONyc token is designed to be used as collateral across Solana's DeFi protocols. The capital from the raise will be used to scale its underwriting capacity and deepen these integrations.
A Broadening Onchain Trend
Forward's investment is the latest in a series of corporate-level integrations into Solana. It follows Sol Strategies' (STKE) recent $18 million acquisition of the cross-chain aggregator HoudiniSwap and DeLorean Labs' announcement that it is bridging its native $DMC token to Solana with support from the Solana Foundation and Wormhole.
"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,” Navi added. The strategy aims to generate durable yield in excess of Forward's cost of capital, compounding value for shareholders.
This article is for informational purposes only and does not constitute investment advice.
[1] Forward Industries and RockawayX Co-Lead Strategic Investment in OnRe to Accelerate Onchain Reinsurance on Solana[2] Solana’s Volatility Hits a Multi-Year Low and The Institutional Trade Explains Why[3] DeLorean Brings Its Iconic IP to Solana[4] Sol Strategies (STKE) Stock Surges Over 12% Following $18M HoudiniSwap Acquisition
