A LatAm telecom operator is putting part of its finances on Avalanche

VIVA, which has operated in Bolivia for more than 25 years and recently expanded into Mexico, is the first carrier live on Iris. It is using USDi, the network’s dollar-backed stablecoin issued by stablecoin infrastructure firm Agora , to settle transactions and hold eligible operating reserves in dollars instead of local currency.

Iris was founded by Jules Miller, a former partner at IBM Blockchain Ventures who helped launch the company’s blockchain venture group.

“Iris is the financial network for telecom operators,” Miller told CoinDesk in an interview. Carriers, she explained, can plug their identity, billing and distribution systems into the network, activate different services and settle activity in U.S. dollars without replacing their core infrastructure.