Advances Investment Forward’s strategy of creating shareholder value through tokenized real-world assets and active participation in Solana’s growing RWA ecosystem.
Austin, TX, May 05, 2026 (Globe Newswire) — 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, along with RockawayX, a global multi-strategy digital asset investment firm. The two companies co-led ONRE’s $5 million Series A round. Separately, Forward intends to deploy up to $25 million in 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, provides on-chain participants exposure to a diversified portfolio of underwritten reinsurance risk, an asset class that has historically been the domain of large institutional allocators. ONyc has been integrated on major DeFi venues on Solana, where it can be used as collateral for lending, borrowing, and looping strategies.
“Forward’s investment in OnRe and ONYC represents a natural extension of our Solana treasury strategy – expanding beyond core staking into high-quality, real-world cash flows that are both complementary and uncorrelated. By acquiring exposure to reinsurance through a tokenized, on-chain structure, we are unlocking a new layer of sustainable, dollar-denominated income while remaining fully integrated with the Solana ecosystem. We “We see ONRE and ONYC as institutional blueprints for real-world assets, structured and distributed on high-performance blockchains like Solana.” said Ryan Navi, chief investment officer of Forward Industries. “This is a fundamental step in our long-term vision of moving forward as the “Berkshire Hathaway of Solana” – allocating capital across a diverse set of high-return opportunities that drive value for shareholders over time.
“We gave preference to ONRE, validated it as the initial underwriter, and provided initial liquidity through our credit division, before raising capital through our curated vault,” said Victor Fischer, CEO of RockawayX. “Seeing Onre grow from zero to a major RWA on Solana shows how much demand there is for new onchain yield sources and how fast the best products can scale.”
Forward’s investment and deployment in Honor is consistent with the company’s goal of leveraging the Solana ecosystem to generate revenue and shareholder value. The company sees tokenized RWAs as one of the most sustainable 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 ONRE, Forward is positioning itself to capitalize on the continued demand for tokenized RWAs, as well as 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, sustainable yields above our cost of capital that not only enhance shareholder value. Will accelerate the forward’s ability, but also improve its flexibility.
ONRE will use the proceeds of the fundraise to increase underwriting capacity, deepen protocol integration into the Solana ecosystem, and support team expansion. Forward’s ONYC deployment is expected to generate sustained 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 Honore’s scaling phase,” said Dan Roberts, Honore co-founder and CEO. “We are focused on expanding liquidity, strengthening infrastructure and advancing global distribution through strategic partnerships. Forward is an important addition to this strategy and, with our deep alignment with RockawayX, is well-positioned to support our growth in the years to come.”
The ONRE investment follows earlier strategic initiatives by Forward, including the launch of Solana validator, FWDSOL, and the tokenization of FWDI shares through Superstate, and reflects the company’s strong belief in the network and its intention to remain active in the ecosystem.
Forward Industries, Inc. About this
Forward Industries, Inc. (NASDAQ: FWDI) is a Solana-focused digital asset treasury company with a strategy to buy, hold, stake, trade, invest in, and leverage SOL and SOL-related digital assets, protocols, and businesses. Forward’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and providing tools and investing in the Solana network, Solana developers, and Solana-related projects to drive shareholder value. In connection with a private placement transaction due in September 2025, Forward launched a digital asset treasury strategy backed by industry leading investors and operating partners, including Galaxy Digital and Jump Crypto. For more information about the company’s Solana treasury strategy, visit www.forwardindustries.com.
about onre
On Re Sac Limited is a fully licensed, collateralized reinsurer and onchain asset manager that connects the $250B market of alternative capital to the $800B global P&C reinsurance market. In addition to bringing additional capacity to the industry, OnRe provides investors access to a diversified portfolio through ONyc, a tokenized reinsurance vehicle designed for flexible performance across market cycles. Through rigorous capital modeling and 24/7 ONYC liquidity, ONRE sets a new standard for reinsurance capital formation.
About RockawayX
RockawayX is a leading multi-strategy digital asset investment firm with over $1.5 billion of assets under management, serving venture, credit, liquidity, curation and infrastructure.
The firm invests in companies building the onchain economy, combining venture investing with deep operational expertise. Since 2018, the firm has backed 100+ early-stage crypto projects including Solana, Kamino, Double Zero, and ONRE.
forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “could,” “will,” “believe,” “estimate,” “forecast,” “target,” “project,” “intend,” and other words of similar meaning. These forward-looking statements address various matters, including statements regarding the anticipated benefits of the investment and deployment of capital in ONRE, the timing and amount of any such deployment, ONRE’s anticipated growth and product development, the development of tokenized real-world assets and onchain reinsurance markets, the Company’s plans for value creation and strategic advantage, and market size and growth opportunities. Each forward-looking statement included in this press release is subject to risks and uncertainties that may cause actual results to differ materially from the results expressed or implied by such statement. Applicable risks and uncertainties include, among others, the risk that the Company may deploy less than the full amount of capital indicated in the ONYC or not at all; the risk that ONyc may not perform as expected; The risk that anticipated investment returns may not be realized; the risk that ONRE may not achieve its development or product development objectives; the highly volatile nature of the price of Solana and other digital assets; The risk that the price of the Company’s common stock may be highly correlated with the price of the digital assets it holds; risks related to increased competition in the markets in which the Company and ONRE operate; risks related to significant legal, commercial, regulatory and technological uncertainty with respect to digital assets and tokenized real-world assets generally; risks related to the regulation of reinsurance and insurance-related products in Bermuda and other jurisdictions; risks related to the treatment of crypto assets for U.S. and foreign tax purposes; and risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.
Contact
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Garrison Yang
Forward Industries, Inc.
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Shawn Mansouri, CFA/Aaron D’Souza
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(720) 330-2829