Unclaimed Cryptocurrency Asset Management Services

The Vendor is required to provide secure, compliant, and scalable custody solutions for unclaimed cryptocurrency assets, non-fungible tokens (NFTS) and other emerging digital assets.
- Secure Storage and Asset Protection: Solutions must protect against theft, hacking, and loss. The solution should employ advanced security protocols, including multi-signature wallets, hardware security modules (HSMs), and secure cold storage.
- Regulatory Compliance: Vendors must ensure compliance with state and federal laws, including unclaimed property statutes, financial regulations (e.g., AML/KYC), digital asset custody rules, and tax reporting.
- Operational Efficiency: The custody solution should minimize the workload on state staff while providing intuitive tools for asset management and reporting.  A provider should be able to assist in developing automated interfaces between the custodian’s and the unclaimed property program’s IT planforms.
- Cost-Effectiveness: Transparent pricing models with clear cost structures are required, ensuring the solution fits within budgetary constraints. Vendors should outline all potential fees, including hidden costs.  Note: custodians will be permitted to deduct reasonable sales and block chain fees from executed transactions.
- Scalability and Flexibility: The solution must scale with the potential increase in wallet numbers, support a diverse range of digital assets, and have the capacity to support emerging cryptocurrencies and NFTs.
- Risk Mitigation: Solutions should include insurance coverage for assets, protection against fraud, and a robust incident response plan in case of security breaches.
- Provide information on your incident response plan, including how you handle breaches or attempted theft.
- Provide an overview of your disaster recovery plan, including:
• Time to recovery for services after a major incident.
• Frequency of testing and updating the recovery plan.
• Backup locations and procedures to ensure service continuity.
• Resiliency measures (e.g., offsite replication, redundant data centers).
- Security protocols, including cold storage, multi-signature wallets, MPC, HSMs, and protections against cyber and physical threats.
- List any systems or platforms your solution has previously integrated with (e.g., ERP systems, accounting software).
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: March 21, 2025