AUSTIN, Texas — An Austin-based vendor has been picked to run the state's newly created gold bullion depository.
On Wednesday, Texas Comptroller Glenn Hegar announced that Lone Star Tangible Assets would build and operate the depository for the state.
Hegar says a state bullion depository will provide Texans a safe local alternative to other depositories which are largely located on the East Coast.
"We'll be able to get started quickly because Lone Star already has a Class 3 vault in Austin, the highest security rating available to serve as the depository's initial location,” said Texas Republican comptroller Glenn Hager.
Back in 2015, state lawmakers passed a law to establish the Texas Bullion Depository.
Once established, Texas would be the only state in the nation to have its own gold depository.
For more information, visit TexasBullionDepository.Gov.
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