TREE NEWS update: Latin American telecom operator VIVA is migrating part of its financial infrastructure on-chain through Iris, a new network designed to help mobile operators turn customer relationships and distribution networks into payments and other financial services. VIVA, which has operated in Bolivia for more than 25 years and recently expanded into Mexico, is the first carrier to go live on Iris, settling transactions in USDi, a dollar-backed stablecoin issued by stablecoin infrastructure firm Agora, and holding eligible operating reserves in dollars rather than local currency.
LatAm Telecom VIVA Moves Part of Financial Infrastructure On-Chain via Iris on Avalanche
AI take
This is a notable case of a telecom, not a bank or fintech, pushing core financial operations on-chain, which broadens the RWA story beyond asset tokenisation into payments and treasury. The choice of a dollar-backed stablecoin for settlement and reserves matters most for operators in markets with local-currency volatility, and VIVA's dual Bolivia-Mexico footprint makes it a test of whether this model travels across jurisdictions. Whether other carriers follow the first-mover, and how regulators in those markets respond to dollar-denominated reserves, is the open question.
Generated by AI for reference only.
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