PARAMETA and SOLBRIC Korea Cooperate to Build Korea's First Solar Power Plant Security Token Platform
[Photo caption: The signing ceremony for the PARAMETA–SOLBRIC Korea agreement on a joint financial regulatory sandbox application and partnership for a solar power plant security token platform]
August 8, 2023, Seoul — Web3 Enabler PARAMETA (formerly ICONLOOP, CEO JH Kim) announced that it has signed a memorandum of understanding with SOLBRIC Korea (CEO Jaewon Kang), operator of a solar power plant security token platform, to cooperate on building Korea's first solar power plant security token platform.
Under the agreement, PARAMETA and SOLBRIC Korea will jointly apply to the financial regulatory sandbox to build a security token platform using solar power plants as underlying assets, and plan to carry out the work involved in security token offerings (STOs) and distribution together once designated as an innovative financial service.
In this partnership, PARAMETA acts as SOLBRIC Korea's blockchain technology partner, providing the technology needed to build the security token platform on the basis of its own service PARAMETA S (STO as a Service), while continuing to offer technical support and cooperation for stable platform operation thereafter.
SOLBRIC Korea plans to build a solar power plant security token platform on which investors can invest and trade securities with even small sums, applying security token technology to a solar power sector where ordinary investors have had virtually no opportunity to participate. Underpinning the venture is the expertise and know-how of parent company NEXT Solar Energy, which holds distinctive competitive strengths in solar power plant development and construction and related businesses.
With the Financial Services Commission last month approving final sanction exemptions and business restructuring for fractional investment operators, and the Financial Supervisory Service subsequently deciding to allow those operators to file securities registration statements for investment contract securities, regulatory support for permitting STOs is also gathering pace. With technical preparations already in their final stages, the two companies plan to actively pursue the range of opportunities Korea's first solar power plant security token platform can create as they roll out the business.
"PARAMETA is currently cooperating with SOLBRIC Korea and numerous other companies with expertise in their respective fields to roll out security token businesses across a range of areas — solar power plants, mobility, real estate NPLs, carbon credits, EV batteries," said PARAMETA CEO JH Kim. "Drawing on the blockchain and Web3 technology and the operational experience we have accumulated, we will work to build a healthy security token ecosystem that can offer individuals a range of investment opportunities."
"Guided by our vision of giving everyone the opportunity to own and trade solar power plants, SOLBRIC Korea will focus on our goal of offering platform participants not only investment returns but a range of experiences of solar power plant ownership," said SOLBRIC Korea CEO Jaewon Kang.
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About PARAMETA (formerly ICONLOOP)
PARAMETA is a technology company that has consistently developed blockchain and Web3 technology under the slogan "Web3 Enabler," leading innovation by applying it across industry. Backed by a full technology stack applicable across Web3 and by a record of success with numerous public and enterprise blockchains, PARAMETA has established itself as a strong partner supporting the technology and consulting needed for Web3 adoption and transformation. PARAMETA supports fast, straightforward Web3 transformation through PARAMETA Service (PARAMETA W (Wallet), N (NFT), S (STO), T (Token Management)), which lets businesses select and apply the core Web3 elements of wallet, NFT, STO, and token management without building their own infrastructure.
About SOLBRIC Korea
SOLBRIC Korea operates Korea's first commercial solar power plant security token exchange, running a platform on which anyone can invest in solar power plants with small sums. By disclosing all information about the plants available for investment within its app, SOLBRIC Korea presents investment points clearly and simply. It enables investment and trading through security token issuance using blockchain technology, and provides existing plant owners with a fast exit by serving as a sales channel.
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