NASHVILLE—The state of Tennessee is looking for a contractor to hold cryptocurrencies on its behalf.
A request for proposals asks potential vendors to outline for the Tennessee Department of Treasury how the company would manage for the state virtual currencies such as bitcoin. Currently, the state holds no cryptocurrencies, according to the RFP, and is seeking a vendor in order to “be prepared in the event that unclaimed virtual currency is remitted to the state’s unclaimed property program,” Nashville Scene reported.
The new vendor would also hold unclaimed cryptocurrencies as the state currently holds other unclaimed property, according to Nashville Scene. The unclaimed property program in Tennessee currently has more than $1 billion in assets and is charged with reuniting owners with the funds. The state directly holds unclaimed cash, but uses a vendor to hold securities.
The state tentatively plans to announce the winning applicant on May 10.
What RFP Says
In the RFP, potential vendors are asked to offer a pricing framework based on the company’s ability to manage monthly trading volumes of $500,000 in virtual currency and 50 transfers or withdrawals of bitcoin from an exchange account each month. The RFP notes that cryptocurrencies would include, but not be limited to, bitcoin, Nashville Scene said.
Yes, FOMO is Very Real in this Case!
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com