Forward Industries, Inc. (NASDAQ: FWDI) announced a strategic investment in onchain reinsurance company OnRe as part of its $5 million Series A round. The company also plans to deploy up to $25 million into OnRe’s yield-bearing token ONyc on Solana, expanding its treasury strategy into tokenized real-world assets and diversified income streams.
This move underscores Forward Industries' commitment to leveraging the Solana ecosystem for innovative financial products. By investing in OnRe, Forward Industries gains exposure to the growing tokenized reinsurance market, which aims to bring transparency and efficiency to the traditional reinsurance industry through blockchain technology. The deployment of $25 million into ONyc tokens is expected to generate yield through OnRe’s platform, providing a new revenue stream for Forward Industries.
Forward Industries describes itself as a Solana-focused digital asset treasury company, with a strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. The company’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with Solana network participants. This investment aligns with that mission by supporting a Solana-based protocol.
OnRe’s platform tokenizes reinsurance contracts, allowing investors to participate in the reinsurance market with increased liquidity and transparency. The ONyc token is designed to provide a yield derived from the underlying reinsurance premiums. Forward Industries' investment and planned deployment signal confidence in OnRe’s technology and the potential of tokenized real-world assets.
For more details on the announcement, visit the full press release at https://ccw.fm/pXcZ9. Additional information about Forward Industries and its Solana treasury strategy is available at forwardindustries.com.
