Uphold Unveils Inheritance Solution for Digital Assets

Uphold has rolled out an innovative inheritance solution for its customers, allowing them to designate beneficiaries for their digital assets upon death. The new feature, called Vault Inheritance, is integrated into Uphold's self-custody wallet and supports Bitcoin (BTC), XRP, and Hedera (HBAR) holdings.

According to the company, almost 4 million BTC (~$331 Billion) in crypto is believed to be stranded in wallets whose owners have passed or lost access to their private keys. This can lead to complex recovery processes for families, who may not know how to navigate the digital asset landscape.

The Vault Inheritance feature enables users to invite a beneficiary directly from their Vault dashboard and notify them of the designation. The beneficiary then receives instructions on setting up an Uphold account to transfer the assets once they make a claim.