Forward Industries has raised $1.65 billion in cash and stablecoin commitments to establish a Solana-focused crypto treasury, marking the largest Solana treasury to date. The initiative is led by Galaxy Digital, Jump Crypto, and Multicoin Capital, with participation from C/M Capital Partners. This move positions Forward as a publicly traded institutional vehicle aiming to generate onchain returns within the Solana ecosystem. Galaxy Digital will manage treasury services, while Jump Crypto will enhance infrastructure support. Multicoin Capital will provide strategic guidance, with co-founder Kyle Samani expected to chair Forward's board. Samani emphasized Solana's growth potential, suggesting that an institutional-scale treasury could accelerate SOL value growth. Forward's $1.65 billion reserve significantly surpasses the current largest Solana treasury held by Upexi, valued at $430 million.