Turning solar power plants into an asset anyone can invest in, a fraction at a time
PARAMETA has signed a memorandum of understanding with SOLBRIC, the operator of a solar power plant security token platform, to jointly build the first solar power plant security token platform in Korea.
Under the agreement, PARAMETA and SOLBRIC plan to jointly apply for the financial regulatory sandbox in order to build a security token platform backed by solar power plants as the underlying asset. Once designated as an Innovative Financial Service, the two companies will carry out the full scope of work around security token offering (STO) and distribution together.
In this partnership, PARAMETA acts as SOLBRIC's blockchain technology partner, providing the entire technology stack needed to build the security token platform on the basis of its own service, PARAMETA S. It will also continue to offer technical support and cooperation to keep the platform running smoothly down the road.
PARAMETA S _ STO as a Service
PARAMETA S packages the full range of security token technology. It makes fractional management of real-world assets possible using tokens, supporting real asset investment management such as STO along with fractional ownership administration.
Solar power plants have been a field where ordinary investors had virtually no way in. By applying security token technology to that space, SOLBRIC plans to build a fractional investment platform - a solar power plant security token platform where investors can invest and trade securities even with small amounts. Underpinning the venture is the expertise and know-how of parent company NEXT SOLAR ENERGY, which holds distinctive competitive strength in solar power plant development and construction and related businesses.
Last month the Financial Services Commission (FSC) granted fractional investment operators a final exemption from sanctions and approved their business restructuring, and the Financial Supervisory Service (FSS) followed by allowing those operators to file securities registration statements for investment contract securities - so regulators are picking up speed in building institutional support for STO. With the technical groundwork already in its final stages, the two companies plan to move ahead while actively exploring the range of opportunities that Korea's first solar power plant security token platform can create.
* Related coverage: The first fractional investment products are due out this month, and brokerages are busy <Newspim / reporter Yunae Lee / August 2, 2023>
SOLBRIC will focus on its goal of giving platform participants not only investment returns but the wider experience of owning a solar power plant, guided by its vision of "the opportunity to own and trade solar power plants, for everyone."
Jewon Kang, CEO of SOLBRIC
PARAMETA is currently working with SOLBRIC and a number of other companies, each with expertise in its own field, to develop security token businesses across solar power plants, mobility, real estate NPLs, carbon credits, EV batteries, and more. Drawing on the blockchain and Web3 technology and the operational experience we have accumulated, we will keep working to build a healthy security token ecosystem that opens up a wider range of investment opportunities for individuals.
■ PARAMETA security token business references
2023.02.15 PARAMETA joins forces with PSX, operator of Seoul Exchange, to jointly develop a security token platform and cooperate on business
2023.03.08 PARAMETA, Spigen, and Pipeline join forces to build a mobility fractional investment and membership NFT platform using STO
2023.03.14 PARAMETA partners with Greenery to build a carbon credit fractional investment platform
2023.03.21 PARAMETA and Uha collaborate to build a content fractional investment platform using STO
2023.03.26 PARAMETA joins NH Investment & Securities' security token consultative body, the STO Vision Group, as a blockchain technology company
2023.07.25 PARAMETA partners with Plutos Partners to build Korea's first real estate NPL security token platform
2023.08.01 PARAMETA partners with Cars Together to build Korea's first mobility security token platform
2023.08.08 PARAMETA partners with SOLBRIC to build Korea's first solar power plant security token platform
About PARAMETA (formerly ICONLOOP)
PARAMETA is a technology company that has led innovation under the slogan "Web3 Enabler," continuously developing blockchain and Web3 technology and applying it across industry. Backed by a full-stack technology set that covers all of Web3 and a proven record with numerous public and enterprise blockchains, PARAMETA has established itself as a powerful partner for the technology and consulting behind Web3 adoption and transition.
PARAMETA offers PARAMETA Service (PARAMETA W, N, S, T), which lets businesses pick and apply the core elements of Web3 - Wallet, NFT, STO, and Token Management - without building their own infrastructure, supporting fast and simple Web3 Transformation.
About SOLBRIC
SOLBRIC is Korea's first security token exchange for commercial solar power plants, running a platform where anyone can invest in a solar power plant with a small amount of money. Its app discloses every piece of information about the plants available for investment, making the investment case clear and easy to grasp. SOLBRIC enables investment and trading through blockchain-based security token issuance, and serves as a sales channel for existing solar power plants that gives their owners a fast exit.
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Web3 Enabler, PARAMETA