Blockchain Smartphone Developer Sirin Labs Secures $157M USD in ICO

Announcements, Blockchain, ICO News | December 29, 2017 By:

Sirin Labs‘ initial coin offering (ICO) has become the fourth-largest crowdsale in history, raising over $157 million.

Switzerland-based Sirin Labs, the creator of the $17,000 ultra-secure Solarin smartphone, said the amount raised through the ICO would be used to fund the development of the first blockchain smartphone and all-in-one personal computer called Finney. Finney devices will run on the company’s Sirin operating system, powered by IOTA’s Tangle technology.

The company said that Finney devices are specifically designed for the needs of the blockchain and crypto community. They combine blockchain’s security with the functionality and essentials of Android OS. These devices would help users manage their crypto assets safely, without worrying about security risks. Users will need to own a certain number of SRN Tokens before they’re allowed the right to buy the $999 smartphone and the $799 personal computer.

“Unlike current models of smart devices that lack proper security features, the Finney family of devices offers users increased protection from cybercrime and hacks,” the company said. “Utilizing the core technology of Solarin, the company has created the only smartphone in the world that’s fully secure and safe enough to hold cryptographic coins.”

“We are both humbled and thrilled by the support that Finney has received during the course of our crowdsale,” said Moshe Hogeg, Founder and Co-CEO of Sirin Labs. “Becoming the fourth-largest crowdsale of the year shows both the need in the market, and usefulness of having devices that can support and secure cryptocurrencies. It really is the first step in bringing blockchain technology to a more mainstream audience.”