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OnRe, an on-chain reinsurance company, completes a $5 million Series A funding round, led by Forward Industries and RockawayX
Mars Finance News, according to market sources, Solana Treasury Company Forward Industries announced that it, together with digital asset investment firm RockawayX, co-led a $5 million Series A funding round for the regulated on-chain reinsurance company OnRe. Forward plans to deploy up to $25 million in interest-bearing tokens ONyc on Solana for OnRe. It is introduced that OnRe is a licensed mortgage reinsurance company and on-chain asset management firm. ONyc can provide exposure to reinsurance risk portfolios, has been integrated into mainstream DeFi platforms on Solana, and can be used as collateral for lending and recycling strategies.