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PARAMETA and SOLBRIC to Build Korea's First Solar Power Plant Token Securities Platform


PARAMETA and SOLBRIC to Build Korea's First Solar Power Plant Token Securities Platform

[PARAMETA and SOLBRIC at the MOU Signing Ceremony to Apply for a Financial Regulatory Sandbox and Partner on a Solar Power Plant Token Securities Platform]

August 8, 2023 – ‘Web3 Enabler’ PARAMETA Corp. (formerly ICONLOOP, CEO Jonghyup Kim) announced that it has signed an MOU with solar power plant token securities platform operator SOLBRIC (CEO Jewon Kang) to collaborate on building Korea's first ' Solar Power Plant Token Securities Platform'.

Based on this MOU, PARAMETA and SOLBRIC will jointly apply for a financial regulatory sandbox to build a token securities platform with solar power plants as the underlying asset and will jointly conduct all aspects of token securities issuance (STO) and distribution after the designation of innovative financial services.

In this cooperation, PARAMETA, as a blockchain technology partner of SOLBRIC, will provide the overall technology required to build a token securities platform based on its service, Parameta S (STO as a Service), and will also provide technical support and cooperation for stable platform operation in the future.

SOLBRIC plans to create a solar power plant token securities platform that allows investors to invest and trade securities even in small amounts through this fragmented investment platform that applies token securities technology to the field of solar power plants, where investment opportunities for general investors have been virtually nonexistent. The foundation of this project is the expertise and know-how of the parent company, Next Solar Energy, which has differentiated competitiveness in various related businesses, including the development and construction of solar power plants.

With the Financial Services Commission granting final sanction exemption and business reorganization to fragmentary investment companies last month, followed by the Financial Supervisory Service's decision to allow fragmentary investment companies to submit securities reports for STOs, the institutional support from financial authorities to allow STOs is also gaining momentum. As the technical preparations are already in the final stages, PARAMETA and SOLBRIC will actively explore various opportunities that can be created by the first solar power plant token securities platform in Korea.

"We are currently working with SOLBRIC and many other companies with expertise in their respective fields to develop various token securities businesses, including solar power plants, mobility, real estate NPLs, carbon credits, and electric vehicle batteries." said Jonghyup Kim, CEO of PARAMETA. "Based on our accumulated blockchain and Web3 technologies and various operational experiences, we will strive to build a healthy token securities ecosystem that can provide individuals with various investment opportunities."

"Based on the vision of 'Giving everyone the opportunity to own and trade solar power plants,' SOLBRIC will focus on the goal of providing platform participants with a variety of solar power plant ownership experiences as well as investment returns." said Jewon Kang, CEO of SOLBRIC.