Crypto: Forward Uses Its SOL Reserves As Collateral To Finance Its Buyback

In a context of increased volatility, the crypto market sees the emergence of an unexpected strategy that intrigues as much as it divides. This refers to Forward Industries which has just financed a share buyback using its Solana reserves as collateral.

A share buyback financed by the Solana crypto

Forward Industries launches a buyback of 6.16 million shares for $27.4 million. The operation is based on a $40 million loan granted by Galaxy.

According to the press release published by Globe Newswire on March 19, this financing relies directly on the Solana (SOL) crypto held by the company. This allows it to mobilize liquidity without selling its crypto assets. But that’s not all! Thanks to this structure, Forward also retains its crypto positions while benefiting from staking income.

Crypto: the SOL per share ratio becomes strategic

Cryptocurrency experts agree on one point: Forward’s objective goes beyond a simple share buyback. Through its approach, the company also seeks to increase its crypto exposure per share.

• Before operation: 0.0624 SOL per share
• After operation: 0.0662 SOL per share

This ratio thus becomes a key indicator in the crypto universe. It reflects the real value held in digital assets per share. For its part, Forward now holds more than 7 million SOL. Enough to strengthen its positioning in the crypto ecosystem.

A crypto strategy under market pressure

Forward’s stock has dropped about 25% since the beginning of the year. At the same time, the price of Solana’s SOL token has fallen about 30%. It indeed went from $240 in September 2025 to nearly $89.

This decline weakens treasury strategies based on crypto. That said, the share buyback acts as a strong signal sent to the market.

Analysis: Forward attempts to restore confidence while capitalizing on its digital assets.

Moreover, the company’s strategy is not limited to crypto and capital. Forward also plans to reduce its SG&A expenses. They will go from $6.5 million to about $3.6 million. This near 45% decrease thus accompanies the shift toward a more efficient model.

In any case, Forward turns the Solana crypto into a real financing tool. This type of strategy could redefine the role of digital assets in public companies, especially if market pressure persists.