(Reuters) - Swiss-Israeli technology firm Sirin Labs said that FIH Mobile Ltd 2038.HK, a subsidiary of world's largest contract electronics manufacturer Foxconn, will manufacture its Finney blockchain smartphone, which is designed to securely store and use digital currencies such as bitcoin in fee-less transactions.
Finney, the world’s first blockchain-based smartphone, can automatically convert tokens for the use of decentralized applications, without having to obtain the different tokens through an exchange, Sirin said.
The company raised $157.8 million in an initial coin offering in December to support the development of an open source blockchain smartphone, as well as a blockchain personal computer.
Sirin plans to sell the device through eight new stores located in Vietnam and Turkey and has so far more than 25,000 units preordered, according to a Bloomberg report bloom.bg/2IqjAQD.
Sirin aims to ship from 100,000 to a few million units this year, the report said.
Reporting by Rama Venkat Raman in Bengaluru; Editing by Leslie Adler
Our Standards: The Thomson Reuters Trust Principles.