Iris launches telecom financial network with $43M backing

Iris emerged from stealth with $43M from Balesia Group and launched a blockchain-based financial network for telecom operators on Avalanche. Bolivia's VIVA was the first to join: operators connect identity, billing and distribution systems to earn revenue from advertising, settlement reconciliation and financial services. Settlements use Agora's USDi stablecoin.

• Iris raised $43M from Balesia Group and emerged from stealth
• Network runs on Avalanche, settlements in Agora's USDi stablecoin
• Bolivia's VIVA became the first operator on the platform
• McKinsey: traffic grew 50% a year while operator revenue grew 1%