Bank examiner Utah, Idaho has been awarded the $10 million Standard Examiner Utah International Bank for a bitcoin payment processing system.
Utah is one of five states awarded the contract, along with Utah, Wyoming, Washington and Minnesota.
The contract was awarded on June 19, 2018.
The Standard Examiner has previously received a $8 million contract for the same technology in 2014.
It is unclear whether the bank will use the bitcoin payment system or use another payment method.
Bitcoin was a major factor in the U.S. presidential election, with President Donald Trump leading the charge to ban or restrict the currency.
Bank officials said bitcoin transactions were still being processed in the state, despite a ban on the currency being imposed in New York on June 17.
“We expect to make significant progress in the coming weeks in completing the regulatory framework for our new Bitcoin-based payments system, Standard Examiners, and are committed to continue the important work of making these payments systems operational in the near term,” said Utah Mayor Paul Fennelly in a statement.
The bank was awarded the award based on its expertise in providing payment systems that work across multiple payment channels, including the US Dollar, the US Banknote and the Euro.