Parameta and Solbric Korea to Create First Solar Power Plant Security Token Platform in Korea
South Korean blockchain company Parameta (formerly known as Iconloop) said Tuesday it entered a business deal with Solbric Korea, a subsidiary of solar energy innovation company Next Solar Energy, to jointly establish the country’s first solar power plant security token platform that allows investors to make fractional investments in solar energy.
Receiving approval as an innovative financial service
In order to establish such a platform that designates solar power plants as underlying assets, they will jointly apply for a financial regulatory sandbox — a program introduced by the Korean government that offers a special and provisional regulatory exemption for financial services that have been recognized for their innovativeness.
Once the platform is recognized under the sandbox as an innovative financial service, the two companies will work together on the issuance and distribution of security tokens.
Expanding opportunities to invest in solar energy
Ultimately, Solbric aims to build a platform that brings security token technology to the solar power sector, which, until now, has presented limited investment opportunities for individual investors in Korea. It will allow them to trade securities and make small-scale, fractional investments in solar power plants.
To do so, Solbric intends to leverage the knowledge and expertise of its parent company, Next Solar Energy — an experienced veteran in the solar plant industry.
As its partner, Parameta will provide the necessary blockchain technology for constructing and managing the platform based on its security token offering service, Parameta S. This service uses tokens to allow fractional management of real-world assets (RWAs), making it easy to invest in and organize them. This offers more liquidity and flexibility compared to traditional investment methods.
“We will focus on providing investment returns to platform users as well as the unique experience of owning various solar power plants,” said Kang Jae-won, the CEO of Solbric Korea.
Increased institutional support
This project is made possible by the recent upturn in institutional support from Korean financial authorities that allows more security token offerings. Last month, the Korean Financial Services Commission ultimately granted regulatory exemptions to several fractional investment firms that have successfully completed the business reorganization as requested by the regulator. The Financial Supervisory Service has also decided to allow fractional investment businesses to apply for investment contract securities.
Taking advantage of this momentum, Solbric and Parameta plan to continually explore diverse business opportunities to establish their platform.
“We are currently working with various specialized companies, including Solbric, to expand our security token businesses in various fields such as solar power plants, mobility, real estate non-performing loans, carbon emission rights, and electric vehicle batteries,” said Kim Jong-hyup, CEO of Parameta.
