Bolivian telecom VIVA adopts Avalanche‑based Iris network for stablecoin settlements

VIVA, a telecom operator that has operated in Bolivia for more than 25 years and recently expanded into Mexico, has become the first carrier to run on Iris, a new financial network built on Avalanche. Iris enables mobile operators to use a dollar‑backed stablecoin for transaction settlement and to hold operating reserves in U.S. dollars without replacing their existing identity, billing or distribution systems.

How Iris works for telecoms

Led by former IBM Blockchain Ventures partner Jules Miller, Iris connects carriers’ legacy infrastructure to a dedicated Avalanche Layer‑1 blockchain. The network uses USDi, a stablecoin issued by Agora, as the settlement asset. By settling in USDi, VIVA can keep eligible operating reserves in dollars, a benefit in markets with volatile local currencies.

Strategic rationale

John Nahas, chief business officer of Ava Labs, noted that in emerging markets mobile operators often serve as the primary financial rail for consumers. By turning their customer relationships and distribution networks into payment channels, carriers can capture more of the economics generated by their infrastructure.

Early results and investment

VIVA’s pilot includes a super‑app that reportedly reduced churn among prepaid customers by 33% and increased lifetime value by 35%. Iris launched with a $43 million commitment from Balesia Group, a family office with telecom holdings across the Americas.

Broader implications

The deployment follows other corporate uses of Avalanche, such as South Korean trading firm POSCO and automaker Hyundai, which have moved trade receivables and internal remittances onto the network. Iris aims to expand to additional carriers in Latin America and potentially Africa and Asia, keeping blockchain interactions invisible to end users while providing a wallet‑like account for telecoms.