Texas DIR/ESBD #908-26-1778WS

Texas Seeks Institutional Custody and Liquidity Services for Strategic Bitcoin Reserve

The Texas Comptroller of Public Accounts, through the Texas Treasury Safekeeping Trust Company, is seeking a qualified provider for custody and liquidity services for the Texas Strategic Bitcoin Reserve. - Government Buyer: - Texas Comptroller of Public Accounts, Texas Treasury Safekeeping Trust Company, Procurement Division - Products/Services Requested: - Secure custody, acquisition, exchange, withdrawal, liquidation, and transfer services for Bitcoin and other qualifying cryptocurrencies - Advanced security protocols required, including cold storage, encryption, multi-factor authentication, and transaction controls - Liquidity provision to enable timely access to digital assets as needed by the Trust Company - Legislative and institutional support, including biennial reports, testimony, and advisory committee participation - Public transparency and education via a dedicated website - Onboarding, account setup, system training, and ongoing reporting - Notable Requirements: - Services must commence within 60 days of contract execution - Initial funding of $10 million, currently held in iShares Bitcoin Trust ETF as an interim measure - Contract term through August 31, 2029, with up to three one-year extensions (potentially through August 31, 2032) - Compliance with state subcontracting plans, including opportunities for certified Veteran Heroes United in Business (VetHUB) subcontractors - No specific OEMs or vendors named; open to qualified providers with institutional-grade cryptocurrency custody and liquidity capabilities

Description

The Texas Comptroller of Public Accounts, on behalf of the Texas Treasury Safekeeping Trust Company, is soliciting proposals from qualified persons or entities to provide custody and liquidity services for the Texas Strategic Bitcoin Reserve. The solicitation involves managing and safeguarding the Reserve's Bitcoin assets. The contract aims to award one or more respondents to perform these services under specified terms and conditions. The project covers multiple districts across Texas and requires dual CTCD/CTCM certification.

View original listing