Forward Industries, Inc. (NASDAQ: FWDI), a company focused on building a Solana treasury, has appointed Michael Ashe, chief strategy officer at Galaxy Digital, to its board of directors, effective immediately. The move underscores Forward’s commitment to expanding its digital asset strategy and strengthening its ties with institutional partners.
Ashe previously served as a board observer at Forward and brings extensive leadership experience in strategy, corporate development, and investment banking from Galaxy Digital, Oppenheimer & Co. Inc., and Citi. According to the company, his appointment reflects the board’s confidence in his expertise as Forward continues to execute its Solana treasury strategy.
Forward Industries describes itself as a Solana-focused digital asset treasury company. Its strategy involves buying, holding, staking, trading, investing in, and growing SOL and related digital assets, protocols, and businesses. The company aims to expand and strengthen the Solana ecosystem by acquiring and staking SOL, engaging with the network, and investing in Solana developers and projects to increase shareholder value.
The company launched its digital asset treasury strategy in September 2025 through a private placement transaction supported by industry-leading investors and operating partners, including Galaxy Digital and Jump Crypto. Ashe’s appointment is seen as a natural progression of that partnership, bringing strategic insight from one of the largest digital asset financial services firms.
Galaxy Digital, where Ashe serves as chief strategy officer, is a prominent player in the crypto space, offering trading, asset management, and advisory services. His background in investment banking at Citi and Oppenheimer adds a traditional finance perspective to Forward’s board, which may help bridge the gap between conventional capital markets and the emerging Solana ecosystem.
Kyle Samani, chairman of Forward Industries, said Ashe’s appointment reflects the board’s confidence in his expertise. The company has not disclosed further details about its treasury holdings or specific plans, but the addition of a Galaxy Digital executive signals a strategic alignment with one of the key backers of its treasury initiative.
For more information on Forward’s Solana treasury strategy, visit forwardindustries.com. The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI.
