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CryptoWorld News: Onre Finance announces the completion of $5 million in strategic funding, led jointly by Forward Industries and RockawayX.
This funding will be used to accelerate the development of its Solana-based tokenized reinsurance platform.
Forward plans to invest up to $25 million in Onre's yield-bearing RWA token ONYC, which will convert stablecoins into reinsurance collateral and pay returns from reinsurance income and collateral yields.
Onre Finance has obtained licenses for insurance law and digital asset business law in Bermuda, allowing it to accept digital assets as collateral for traditional reinsurance contracts.