Iris Unveils $40M-Funded Financial Network for Telecom Operators
Iris has launched publicly with $40 million in funding to build a financial network for telecom operators. The network, built on Avalanche, connects identity, billing, and distribution systems to modules for advertising, payments, commerce, and settlement.
The company is backed by Balesia Group's $43 million commitment. Iris said transactions settle through USDi, a dollar-backed stablecoin, allowing operators to hold and move value in dollars without exposing their balance sheets to volatile assets.
VIVA, a licensed mobile operator in Bolivia and Mexico, is the first carrier operating on Iris. It uses the Stablecoin Module for transaction settlement and operating reserves, while the Superapp Module has cut prepaid customer churn by 33% and increased prepaid customer lifetime value by 35%.