PARAMETA

About PARAMETA

Established in 2016 in Seoul, South Korea, PARAMETA, formerly known as ICONLOOP, operates as a specialized blockchain technology company. The company was founded by Jonghyup Kim, who currently serves as the CEO and has been recognized with the Minister of Science and ICT Award for his contributions to the blockchain industry. PARAMETA aims to apply its proprietary blockchain technology across various sectors, including public services, finance, distribution, authentication, and healthcare.

PARAMETA functions as a Web3 enabler, providing tailored, white-label blockchain solutions for both traditional and Web3 businesses. The business model is centered on offering its full-stack technology through an API-based service, which allows clients to integrate Web3 elements like wallets, NFTs, and Security Token Offerings (STOs) without building their own infrastructure. The company serves a diverse client base, including financial institutions, gaming companies, and public sector organizations. Revenue is generated through these tailored solutions and services. The company has secured $20 million in total funding over three rounds, with its latest Series B funding round in March 2024 raising $6.67 million.

The firm's core offering is its proprietary Layer 1 blockchain core engine, 'loopchain,' which is designed for high performance and interoperability. Building on this foundation, PARAMETA offers the 'Parameta Framework,' a full package blockchain toolkit. Key products are delivered as-a-service and include: 'Parameta W' (Wallet as a Service) for key and digital identity management; 'Parameta N' (NFT as a Service) to manage the entire lifecycle of NFTs; 'Parameta S' (STO as a Service) for digitizing real assets; and 'Parameta T' for token issuance and management. A significant feature is the Blockchain Transmission Protocol (BTP), which facilitates interoperability between different blockchains. The company also provides a digital identity authentication platform, 'MyID,' which has been adopted in the South Korean financial sector.