OnRe Finance Scores $5M as Forward Eyes $25M ONyc Tokenized Reinsurance Play

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OnRe Finance raises $5M as Forward lines up $25M ONyc buy

OnRe Finance secured $5 million in funding from Forward and RockawayX. This investment comes as Forward plans to invest up to $25 million more into ONyc, a platform that’s expanding tokenized reinsurance on the Solana blockchain and integrating it with decentralized finance (DeFi).

Summary

  • OnRe Finance, a regulated on-chain reinsurance firm built on Solana, has completed a $5 million funding round co-led by Forward Industries and RockawayX.
  • Forward plans to deploy up to $25 million into OnRe’s ONyc token, a yield-bearing Solana asset that gives holders exposure to tokenized reinsurance returns.
  • Proceeds will be used to scale OnRe’s Solana-based reinsurance pools, expand underwriting capacity, and deepen integrations with DeFi protocols across the ecosystem.

OnRe Finance has secured $5 million in funding to speed up the creation of its reinsurance platform on Solana. The funding round was jointly led by Forward Industries, a company specializing in Solana-based investments, and RockawayX, a firm that invests in a variety of digital assets.

Forward and Rockaway back on-chain reinsurance on Solana

As announced by GlobeNewswire, the new funding will be used to grow OnRe’s insurance offerings, expand its team, and better connect its services with the DeFi ecosystem on Solana.

Forward, a company traded on Nasdaq as FWDI, explained that this decision is a logical next step in its approach to managing its Solana holdings. They are moving beyond simply earning rewards through staking and are now looking to add reliable income from real-world sources, diversifying their revenue streams.

OnRe is authorized in Bermuda to operate as both an insurer and a digital asset business. This allows it to use cryptocurrencies as security for standard reinsurance deals and distribute profits from its insurance portfolio to investors using blockchain technology.

$25M ONyc deployment for tokenized reinsurance yield

In addition to the recent investment, Forward plans to invest up to $25 million in ONyc, a token on Solana created by OnRe. ONyc allows users to earn rewards by using their stablecoins as collateral for reinsurance, generating returns from both reinsurance profits and the collateral itself.

ONyc pools connect with popular Solana DeFi platforms, allowing users to use them as collateral for loans, borrowing, and advanced investment strategies. This lets investors transform income from reinsurance into versatile, usable funds on the blockchain.

As a crypto investor, I’ve been looking into OnRe, and it seems they’ve launched similar products before, like the ONe token. Basically, they aim for really high returns – over 30% – by combining performance from the reinsurance industry with yields from their collateral and incentives built into the token itself. What’s interesting is they’re tapping into the massive $750 billion reinsurance market to make this happen.

As someone who’s been following the Solana ecosystem – and as an early investor in over fifteen projects – I’ve been really intrigued by OnRe’s approach. RockawayX, another early Solana backer, has pointed out something key: their model seems to be able to generate the same revenue with just $10 million in Total Value Locked (TVL) as a traditional money market fund holding $500 million. This is because they effectively layer reinsurance premiums and collateral income on top of each other, making their capital use incredibly efficient.

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2026-05-05 21:03