Sirin Labs is set to combat the waning interest in blockchain technology by merging with an undisclosed Israeli cybersecurity startup, a move confirmed by Kenes Rakishev and Mosche Hogeg. The plan, in its final stages, holds undisclosed details about the cybersecurity startup, pending an official announcement. Given the heightened focus on cybersecurity investment, the collaboration is poised to be mutually lucrative, with Sirin Labs gaining products and the startup securing a promoter and retail agent.

Swiss-Israeli tech firm Sirin Labs, recognized for the Finney phone, is nearing the conclusion of a merger with an Israeli security startup, marking a potential shift in focus, as speculated by the Israeli “Globes” newspaper. Despite the global decline in cryptocurrency interest affecting Sirin Labs and the Finney smartphone, a deal prediction by Hogeg indicates that if the merger materializes, the existing Sirin Labs stores in London and Tokyo will primarily delve into cybersecurity while still retailing the Finney smartphone. Notably, Sirin Labs, led by Hogeg and Rakishev, has been actively issuing smartphone updates despite discontinuing plans for a new generation of Finney devices earlier this year.