Casa presents innovative approach to address Bitcoin inheritance through multi-key solution

Casa, a Bitcoin self-custody firm, is introducing an inheritance feature to simplify the transfer of assets to beneficiaries from deceased estates. Inheriting cryptocurrencies can be a complex process, especially if the owner hasn’t made any provisions for their families or designated recipients to take control. Casa’s CEO, Nick Neuman, acknowledges that the inheritance of cryptocurrencies has long been a problem for crypto-natives who want to ensure their digital assets are passed on correctly. Casa has previously offered an inheritance feature to its highest membership tier in the US, but now it will be available to all Casa members. The new offering allows users to transfer Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC) holdings to beneficiaries. The goal is to guarantee a straightforward, secure, and resistant process for managing the cryptocurrency holdings of deceased individuals. In order to access the assets, Casa users will need to designate a recipient to a specific token vault in the Casa app. The recipient will then create a free Casa account and scan a QR code provided by the vault owner, which contains an encrypted version of the owner’s mobile key. The recipient can only import the key with the specified account and won’t be able to initially use it or see the vault balance. If the owner is still alive, they can reject the request in their app. If the timer runs out after six months, the recipient can use the shared mobile key and request a signature from the Casa Recovery Key for the shared vault, which gives them access to the assets. Casa will also offer a five-key vault, where one hardware key is shared with the recipient, adding increased security and resilience for larger holdings. Casa, which was founded in 2016, has been promoting multisignature self-custody in the crypto industry. Its Bitcoin vault allows users to store the cryptocurrency using up to five keys for enhanced security. Previously, Casa’s services were mainly aimed at Bitcoin “whales” willing to pay $10,000 a year for custody, but the company has now expanded its offerings to a wider range of users, including those holding Ether.