Iris launches with $43M to turn telecom carriers into financial players
What's the deal? Iris NetworkDealroom has a profile for this one. Try Dealroom → has launched publicly with $43 million from Balesia Group to build a financial network on AvalancheDealroom has a profile for this one. Try Dealroom → that lets telecom operators earn revenue from their existing infrastructure. The backing comes from a single family office with more than four decades in telecom.
What's the endgame? The network connects operators' identity, billing, and distribution systems to modules for advertising, payments, commerce, and settlement. Iris wants carriers to move from selling connectivity to participating in financial activity generated across their networks.
How does it work? Transactions settle through USDiDealroom has a profile for this one. Try Dealroom →, a dollar-backed stablecoin, letting operators hold and move value in dollars without exposing their balance sheets to volatile assets.
The product: ALVADealroom has a profile for this one. Try Dealroom →, a mobile app supported by the network, is live through VIVA, a licensed operator in Bolivia and Mexico. It serves a Bolivian market of more than 3 million mobile subscribers. VIVA uses the Stablecoin Module for settlement and reserves; its Superapp Module has cut prepaid customer churn by 33% and lifted prepaid customer lifetime value by 35%.
Why now? Iris said it holds agreements with operators representing more than 60 million subscribers across six countries. VIVA is the first carrier live on the network.
The signal: Telecom carriers already own identity, billing, and distribution — assets that map neatly onto financial services. Iris is betting that stablecoins and a dedicated blockchain can help operators monetise those relationships without holding volatile crypto.
Read more: cryptobriefing.com
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