Securities Custodian Services

The Arizona Master Agreement CTR054776, awarded to Avenu SLS Holdings LLC, provides comprehensive Securities Custodian Services for the Arizona Department of Revenue's Unclaimed Property Section. The master contract encompasses a range of financial services, including digital asset management, mutual funds processing, and custodial account services. Specifically, the contract enables the state to receive, liquidate, transfer, and manage various financial assets, with specialized capabilities such as cryptocurrency management through a partnership with Gemini Trust Company, LLC. The services include establishing segregated accounts, processing transactions, facilitating staking and airdrop services, ensuring tax compliance, and providing view-only access to state employees.

The indefinite delivery vehicle was originally awarded on April 16, 2021, by the Arizona Department of Administration's State Procurement Office, with Avenu SLS Holdings LLC as the prime contractor. The contract has been renewed multiple times, with the current term extended to April 15, 2026, through six consecutive amendments. Geographically limited to the State of Arizona, the contract is structured as a Master Service Agreement with comprehensive insurance coverage, including $1,000,000 in general liability, $10,000,000 in umbrella liability, and additional specialized coverage for technology errors and cyber risks. The contract's value includes various fee structures, such as an annual setup fee, monthly service fees based on account valuation, and transaction-specific charges for services like mutual fund processing.