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AI & Enterprise

Google to build three new subsea cables linking North, Central and South America

Google will build three new large subsea cable systems linking North America, Central America and South America. The expansion uses the Dominican Republic as a central hub to increase connection capacity between the U.S. East Coast, the Caribbean and Latin America. The systems, named Alearios, Canoas and Olarus, include routes from Florida via the Dominican Republic to Panama and Chile. Google will also add a Dominican Republic landing branch to its existing Firmina cable.

Crypto

Augustus raises $180 million led by Tiger Global, CEO says

Venture capital firm Tiger Global led a $180 million Series B funding round for banking startup Augustus, with Hummingbird, QED and founders of Nubank, Ramp, Circle and Deel also taking part. The company was valued at $1 billion. Augustus plans to use the funds to expand services for fintech firms and banks in Latin America, Southeast Asia, the Middle East and Africa. CEO Ferdinand Davitz said the company aims to improve access to dollars abroad.

Crypto

Dollar stablecoins could undermine emerging market monetary sovereignty, BIS warns

Dollar-pegged stablecoins could bypass capital controls and weaken monetary sovereignty in emerging markets, researchers at the Bank for International Settlements said. Comparing foreign-currency deposits and stablecoin inflows across more than 130 countries, they found stablecoin flows were largely unaffected by capital and foreign-exchange restrictions. The researchers said households and firms may shift into dollar tokens where local currencies are unstable or financial access is limited, reducing central banks’ policy influence.