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Forward Industries and crypto investment company RockawayX have co-led a strategic investment in OnRe, a startup building reinsurance infrastructure on the Solana blockchain, aiming to bring traditional risk-transfer markets onto decentralized rails.
The companies said Tuesday they co-led OnRe’s $5 million Series A round. Forward plans to allocate up to $25 million into the platform’s yield-bearing token on Solana.
OnRe is attempting to shift parts of the reinsurance market—where insurers offload risk to third parties—onto blockchain infrastructure. The approach relies on tokenization and smart contracts to manage underwriting and capital flows.
The funding is intended to expand OnRe’s platform and attract more institutional participants to onchain reinsurance, described as a niche but emerging segment within decentralized finance.
The initiative aligns with a wider push to test real-world financial services, including insurance and reinsurance, on blockchain networks. However, the article notes that adoption remains at an early stage.
Forward Industries (FWDI) is described as the largest corporate holder of Solana (SOL), with more than 7.01 million SOL on its balance sheet, according to industry data.
Forward’s Nasdaq-traded shares gained about 5.8% in Tuesday’s regular session, according to Yahoo Finance. In after-hours activity, at last look, most of that increase had evaporated. SOL was last trading at $86.61, up about 2.7%.
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