FY26 TRM Labs - Blockchain Analytics Software SPSSC

The State of Illinois is procuring blockchain analytics software through a small purchase with sole source conditions procurement from TRM Labs, Inc. This contract opportunity is posted by the state with a due date of March 10, 2026, and the contract term extends through calendar year 2026. The primary objective of this procurement is to provide relevant department staff with blockchain analytics software capable of monitoring on-chain digital asset transactions facilitated by regulated entities to identify illicit and fraudulent activity. The deliverable is the blockchain analytics software solution itself, which will enable real-time monitoring and detection of illicit and fraudulent transactions on blockchain networks. While specific evaluation criteria are not detailed in the available documentation, vendors must comply with all applicable federal, state, and local laws, maintain general commercial liability insurance of $1,000,000 per occurrence and $2,000,000 annual aggregate, and carry auto liability coverage of $1,000,000 per occurrence. Additionally, vendors must adhere to the Illinois Information Technology Accessibility Act Standards and specified security requirements, including NIST Special Publication 800-53 Revision 5 baseline controls and Cloud Security Alliance recommendations for cloud-based solutions. The vendor must also maintain books and records for three years from final payment or contract completion.

This procurement is structured as a small purchase with sole source conditions, which restricts competition to TRM Labs, Inc., indicating that no set-asides for disadvantaged enterprises or other organizational restrictions apply in the traditional sense. TRM Labs, Inc. is identified as the incumbent and current contractor for this blockchain analytics software solution, reflecting the continuation of an existing vendor relationship. The contract allows for termination by the State for convenience with thirty days' prior written notice, or for cause immediately upon notice if the vendor breaches material contract provisions. All work product and intellectual property created under the contract shall become the sole and exclusive property of the State of Illinois. Specific budget or award values are not disclosed in the available documentation, though invoicing is required by July 31 for services rendered through June 30 of any given year, and payment shall be processed in accordance with the State Prompt Payment Act.