Uphold's 'XRP in a Vault' Teaser Revealed as Inheritance System Supporting Multiple Assets
Uphold has clarified its 'XRP in a Vault' teaser, revealing that it was an on-chain inheritance system for Uphold Vault.
The clarification came after the exchange's official X account teased an 'XRP first' product, sparking speculation among XRP users about the nature of the upcoming product.
However, Uphold CPO Paul Unterberg explained that the new feature supports not only XRP but also Bitcoin and Hedera, as it is designed to allow Vault owners to designate a beneficiary who can claim their crypto if they die or become incapacitated.
The inheritance system uses a 2-of-3 multisig wallet structure, where the user controls two keys and Uphold holds the third. This allows users to retain control of their assets during their lifetime while providing a mechanism for beneficiaries to access them when necessary.