RockawayX, a global digital asset investment firm with over $2 billion in AUM, today announced a strategic investment in OnRe, a regulated onchain reinsurance company, alongside Forward Industries, the leading Solana treasury company. The two firms co-led OnRe's $5 million Series A round.
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.
OnRe has grown quickly since launch as institutional and onchain capital has looked for yield sources that don’t depend on crypto market cycles. Its DeFi footprint has expanded, its LP base has broadened, and its underwriting book continues to scale.
OnRe shows what an RWA, or tokenized asset, can be at its best, pairing the strength of reinsurance yield with the composability of crypto. The yield comes from a real operating business, with OnRe writing premiums in the $800 billion reinsurance market. The project highlights DeFi’s technological edge; investors can expediently borrow (stablecoins) against their position in OnRe’s reinsurance pool.
DeFi users are eager for risk-adjusted yields and OnRe has been a key beneficiary of this demand. In approximately a year since going live, it has surpassed $150m in assets under management–a rapid ascent for an upstart reinsurer.
It also benefits from an increase in on-chain products offering users access to varied RWAs with one click–akin to open credit funds. As an example, it is a key constituent in RockawayX’s RWA Vault on Kamino, Solana’s dominant DeFi marketplace, that lets users earn fixed returns on stablecoins by backing high-quality projects like OnRe.
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 up-to-$25 million ONyc deployment will be funded over time from the Company’s treasury and is intended to add a real-world yield component to Forward’s SOL-denominated balance sheet.
“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.”
“OnRe is one of the more interesting RWA businesses we’ve looked at on Solana. It’s a regulated, revenue-generating reinsurer, and ONyc gives the resulting yield a clean home in DeFi,” said Ryan Navi, Chief Investment Officer of Forward Industries. “Backing the company alongside RockawayX and putting Forward’s own capital to work in ONyc are two sides of the same thesis: real-world cash flows belong onchain, and Solana is where that’s actually getting built.”
About RockawayX
RockawayX is a leading multi-strategy digital asset investment firm with over $1.5 billion in assets under management, operating across venture, credit, liquidity, curation and infrastructure.
The firm invests in companies building the on-chain 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.
About Forward Industries, Inc.
Forward Industries, Inc. (NASDAQ: FWDI) is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow 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 engaging with, providing tools to and investing in the Solana network, Solana developers and Solana related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched a digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company's Solana treasury strategy, visit www.forwardindustries.com.
About OnRe
On Re SAC Ltd. is a fully licensed, collateralized reinsurer and onchain asset manager connecting $250B of alternative capital with the $800B global P&C reinsurance market. Beyond bringing additional capacity to the industry, OnRe provides investors access to a diversified portfolio through ONyc, a tokenized reinsurance vehicle designed for resilient performance across market cycles. Through rigorous capital modeling and 24/7 ONyc liquidity, OnRe sets a new standard for reinsurance capital formation.
Press: contact@rockawayx.com
