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Telecommunications & Media

KT, KISTI launch 400Gbps Korea-U.S. research network, quadrupling capacity

KT has built a 400Gbps national science and technology research network linking South Korea and the United States, expanding transmission capacity fourfold from 100Gbps. KT said it opened South Korea’s first 400Gbps single dedicated international line with the Korea Institute of Science and Technology Information. The link connects KISTI’s headquarters in Daejeon with Chicago and is intended to reduce delays and capacity shortages when exchanging large research datasets.

Industry

Musk\'s Boring Company raises $3 billion in UAE-led round, valued at $23 billion

Elon Musk\'s tunnelling company The Boring Company raised $3 billion in a Series D round led by the United Arab Emirates and related investment institutions, valuing it at $23 billion. The valuation is about four times its roughly $5.7 billion value in 2022. The company plans to use the funds to hire staff, expand Loop projects and develop its Prufrock tunnelling machine, with a key focus on building more than 150 km of tunnels in the UAE.

Crypto

Tech Insight: Why stablecoins still are not used like money despite being super infrastructure

Zach Abrams, founder and CEO of stablecoin issuer Open Standard, said stablecoins can be as stable as cash, profitable and transferable online, but are not being used effectively for transactions. He cited hurdles in card settlement, institutional trading, corporate treasury management and fintech infrastructure. Abrams said Open Standard is focused on solving these issues with OpenUSD by sharing reserve income, charging small per-transaction fees and imposing no withdrawal fee.