Forward Industries, RockawayX back OnRe to build onchain reinsurance on Solana
Investors back a model that moves insurance risk and capital flows onto blockchain rails, as onchain reinsurance looks to attract institutional participation.
Forward Industries and crypto investment company RockawayX have co-led a strategic investment in OnRe, a startup building reinsurance infrastructure on the Solana blockchain, in a move aimed at bringing traditional risk-transfer markets onto decentralized rails.
The companies said Tuesday they co-led OnRe’s $5 million Series A round, with Forward planning to allocate up to $25 million into the platform’s yield-bearing token on Solana.
The funding will be used to expand OnRe’s platform and attract more institutional participants to onchain reinsurance, a niche but emerging segment within decentralized finance.