# BSCN Debrief: Open USD Launches, Quant Picks Banks *Open Standard's OUSD goes live with BlackRock reserves, The Clearing House taps Quant for tokenized deposits, and Citi raises Bitcoin's 12-month target to $113,000. Here's what mattered.* By [The BSCN Debrief](https://paragraph.com/@bscnalpha), 2026-10-02 crypto news, bitcoin, newsletter, stablecoins, institutional adoption --- [![](https://storage.googleapis.com/papyrus_images/31d6b9b5153f6846eba3679e581dc0d74034f5bbdaff70cd5f18c8194cf88273.png)](https://bscnhive.com/YS5WFAi) ⚡ **Swap across chains, no middlemen.** [THORChain](https://bscnhive.com/YS5WFAi) lets you swap natively between Bitcoin, Ethereum, Solana, XRP, BNB Chain, Avalanche and more, straight from your own wallet. No wrapped tokens, no bridges, no KYC. [Swap now](https://bscnhive.com/YS5WFAi). [![](https://storage.googleapis.com/papyrus_images/cff0a300a78a38569bed3bc946b80b641bfdc62f3ddb6012c22c9722bdb5a248.png)](https://bscnhive.com/bscninsider) 📲 **Want fast news direct to your inbox?** Join the BSCN Insider club on Telegram for breaking stories and market moves the moment they land. **JOIN NOW:** [bscnhive.com/bscninsider](https://bscnhive.com/bscninsider) Breaking News ------------- [**Open USD Launches With BlackRock And BNY Reserves**](https://bsc.news/news/open-usd-ousd-stablecoin-live-blackrock-bny) ![](https://storage.googleapis.com/papyrus_images/32704cca0e692ee2adc9174d578bbc8282bd42bcadb5127b09b3c01c09e801b4.jpg) Open Standard's dollar stablecoin OUSD is live on Base with reserves held in BlackRock's BUILD fund and BNY Mellon custody. [**Citi Bank makes bold Bitcoin Prediction**](https://bsc.news/news/citi-bitcoin-113k-eth-target-2026) ![](https://storage.googleapis.com/papyrus_images/12f772fb23a8e4d3d34be84e9c7dd03b25bfd7b3f86c606c68f2ede5d7ee68f9.jpg) Citigroup raised its 12-month institutional price target for Bitcoin from $82,000 to $113,000 and for Ethereum from $2,240 to $3,028. [**SEC proposes a clear path for funds to hold crypto**](https://bsc.news/news/sec-crypto-custody-rules-advisers-funds) ![](https://storage.googleapis.com/papyrus_images/364781e353e5e29495666759a8a578da0df6be1e810612eaa0d6fb54859e4041.jpg) The SEC proposed new rules on October 1, 2026 to give registered investment advisers and regulated funds a formal route for safeguarding client crypto assets. [**Absa becomes the first bank in Africa to offer custody services supporting the XRP Ledger**](https://bsc.news/news/absa-africa-first-bank-digital-asset-custody) ![](https://storage.googleapis.com/papyrus_images/1cd7b22201bc006a01bee0bf40ac8787276692b7d19aea4e1fc070877691de71.jpg) South Africa's Absa has launched Africa's first bank-grade digital asset custody service, with support for the XRP Ledger included in the offering. What the Markets Think ---------------------- [**Will Bitcoin touch $90,000 in October?**](https://polymarket.com/event/bitcoin-price-to-reach-90k-in-october?via=BSCNews) 60%. Polymarket traders are bullish on near-term upside after Citi's institutional target hike, with Bitcoin sitting around $83,700 on October 2. [**Will Ethereum hit $2,800 in October?**](https://polymarket.com/event/what-price-will-ethereum-hit-in-october-2026?via=BSCNews) 83%. Traders are pricing strong upside potential for ETH this month, well ahead of Citi's 12-month $3,028 target. [**Will the CLARITY Act be signed into law in 2026?**](https://polymarket.com/event/clarity-act-hr3633-signed-into-law-in-2026?via=BSCNews) 14%. Odds collapsed from above 80% earlier this year after the Senate cloture vote failed on September 15, leaving crypto's landmark regulatory bill essentially dead for now. The Big Story ------------- [**What is The Clearing House, the 1853 bank group that picked Quant?**](https://bsc.news/news/clearing-house-quant-tokenized-deposits) ![](https://storage.googleapis.com/papyrus_images/a86e846f9b3bf84237fd06f33522c6f5bda2836c06378d5ac080fd76495c578e.jpg) The Clearing House, a 171-year-old banking consortium owned by 22 of the largest U.S. banks, announced on September 24 that it had chosen Quant Network to power its new tokenized deposit network. The selection put Quant's Overledger interoperability technology at the center of an initiative that could ultimately link trillions of dollars in commercial bank deposits to blockchain rails. The Clearing House operates critical U.S. payments infrastructure including the RTP instant payments network, processing over $2 trillion in daily volume. Its member banks collectively hold more than 70% of all U.S. deposits, making this one of the most significant institutional blockchain deployments to date. Top Stories ----------- [**Lloyds and Visa took stablecoin settlement out of the lab**](https://bsc.news/news/lloyds-visa-usdc-stablecoin-settlement-pilot) ![](https://storage.googleapis.com/papyrus_images/8d3132fbd5d0383802eaac5b0965a84c6a597be894af50fae89d054b9646a2cf.jpg) Lloyds Bank and Visa moved their stablecoin experiment from proof-of-concept into a live, real-money environment. The two institutions completed a seven-day pilot that settled actual Visa card transactions using USDC on Solana, marking the first time a major UK bank has used stablecoins for live commercial settlement. The pilot tested end-to-end card settlement workflows with USDC serving as the final settlement asset between Lloyds and Visa, bypassing traditional correspondent banking rails entirely. [**Dogecoin Opens The Door to New Apps**](https://bsc.news/news/dogeos-dogecoin-public-testnet-smart-contracts) ![](https://storage.googleapis.com/papyrus_images/61134f62502bd57510aaee6e5a8ceca800e3cba29c688d363fe28855eb9fbce7.jpg) DogeOS has opened its public testnet, marking a significant step in Dogecoin's evolution from a peer-to-peer payments network into a programmable application ecosystem. The launch enables EVM-compatible smart contracts on Dogecoin via a zero-knowledge rollup. The testnet, named Chikyū, launched on September 30, adding an execution layer on top of Dogecoin's mainnet while using DOGE as the native gas token. [**MetaMask Exits Thousands Of Validators Amid Security Incident**](https://bsc.news/news/metamask-validators-exit-security-incident) ![](https://storage.googleapis.com/papyrus_images/d19bc9d42d1f5c1ba69c187d0b11872fd88e5342e1cd4d79ccb078293a231074.jpg) MetaMask disclosed a security incident on October 1, affecting part of its staking infrastructure and triggering a large-scale precautionary exit of Ethereum validators. The company said it had found no indication that customer wallets or funds were compromised. MetaMask said it is responding to what it described as an ongoing security incident affecting part of its infrastructure, with no direct threat to user wallets confirmed. The crypto wallet provider is working with external partners and security advisers but has not disclosed the nature of the incident. Deep Dive of the Week --------------------- [**What is OpenStandard's OUSD?**](https://bsc.news/post/what-is-ousd) ![](https://storage.googleapis.com/papyrus_images/af49e72276c176ab6e30601f224197b98bd2629640b0a8c01e9ed8f084d976b7.webp) Open USD (OUSD) is a US dollar stablecoin governed and operated by Open Standard, an independent company. It launched on September 30, 2026, on Base, backed by reserves held in BlackRock's BUILD fund and custodied at BNY Mellon. This deep dive walks through OUSD's reserve structure, governance model, and how it differs from incumbent stablecoins like USDC and USDT. By the Numbers -------------- **$500M+:** Total capital raised by builders across the Avalanche ecosystem over the past year, according to the foundation. **59.5%:** Polymarket odds that Bitcoin will touch $90,000 before October ends, with nearly even 49.5% odds of a dip to $80,000. **8 consecutive days:** NIGHT token's winning streak, rising as much as 86% over seven days as Midnight prepares to launch smart contracts. **$3.8M:** Amount lost in the NEAR Intents exploit on October 1, prompting a temporary suspension of operations and stricter code verification processes. **252 days:** NASDAQ-listed Tron Inc.'s streak of daily TRX purchases, claimed as the longest uninterrupted streak of daily crypto purchases by any publicly traded company. **3,023:** Fake accounts, scam websites and phishing threats removed by Sui Network across multiple online platforms through its partnership with ChainPatrol. On Our Radar ------------ **Kalshi launches Dogecoin perps:** The CFTC-regulated platform activated fully regulated perpetual contracts for DOGE in the United States, marking another step in bringing crypto derivatives onshore under federal oversight. **NEAR proposes inflation cut:** Sal Ternullo, CEO of Nasdaq-listed SVRN, has put forward a proposal to reduce NEAR Protocol's annual token issuance from 5% to 3%, a more than one-third cut that would tighten NEAR's supply schedule. **Binance faces MiCA scrutiny:** The exchange is facing regulatory scrutiny over how it has been using a narrow exemption under the EU's Markets in Crypto-Assets Regulation to continue serving European clients after losing its bid for an official licence in the bloc. **Cardano hits consecutive transaction records:** Cardano recorded back-to-back daily transaction highs on September 30 and October 1, marking the strongest two-day run the network has seen in recent weeks with 33,467 finalized transactions on September 30. _Until Monday._ --- *Originally published on [The BSCN Debrief](https://paragraph.com/@bscnalpha/bscn-debrief-open-usd-launches-quant-picks-banks)*