RFI Transactional Payment Systems Using Asset-Backed Currency

The Texas Comptroller of Public Accounts issued RFI 908-26-031326MS on March 13, 2026 seeking information on transactional payment systems using asset-backed currency (digital instruments or currency backed by gold or silver held in the Texas Bullion Depository), with responses due March 13, 2026 at 2:00 p.m. Central Time. This is a non-award RFI for information gathering only; no contract will result from responses, and the CPA bears no obligation to issue a subsequent solicitation.

The RFI stems from House Bill 1056 (89th Texas Legislature), which authorizes the CPA to establish or authorize electronic systems enabling depositors and vendors to make and receive payments using bullion-backed currency. The CPA seeks comprehensive input across 27 topics organized in six categories: general business model considerations, system architecture and technology standards, payment functionality and settlement processes, bullion liquidation and redemption workflows, partnership ecosystem requirements, and risk management with regulatory compliance strategies. The system must support peer-to-peer transactions, point-of-sale transactions, and online and mobile capabilities using existing point-of-sale infrastructure.

The CPA has not established estimated contract values, working capital requirements, fee structures, or transaction volume assumptions. Implementation is intended to be fee-supported, with the selected contractor bearing implementation costs and receiving compensation from collected fees, as no legislative appropriation has been provided. Statutory effective date for the system is May 2027. The CPA anticipates releasing a formal solicitation later in 2026, though it is under no obligation to do so.

Respondents must address constitutional compliance with Section 10, Article I of the United States Constitution, which prohibits states from coining money or emitting bills of credit. The CPA also seeks input on regulatory compliance including AML/BSA frameworks and Money Services Business licensing under Texas Finance Code Chapter 152. All RFI responses become public property and will be released without redaction; respondents must not submit confidential or proprietary information. Lone Star Tangible Assets, LP currently provides precious metals custody and accounting services but does not provide payment system services.