Casa’s Innovative Approach to Self-Custody Bitcoin Inheritance: A Multi-Key Solution

Casa, a Bitcoin self-custody firm, is introducing a new feature to simplify the transfer of assets to beneficiaries from deceased estates. Inheriting cryptocurrencies can be a complicated process, especially when the owner has not 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 the smooth transition of their digital holdings. 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 feature allows users to transfer Bitcoin, Ether, Tether, and USD Coin holdings to beneficiaries. The aim is to make the management of cryptocurrency holdings of deceased individuals straightforward, secure, and resistant to malicious actors. Casa’s users can designate a recipient to a specific token vault in the app, and the recipient can then create a free Casa account and scan a QR code provided by the vault owner. This QR code contains an encrypted version of the owner’s mobile key, which can only be imported by the specified account. If the owner is still alive, they can reject the request. 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 to access the asset. Casa will also offer a five-key vault for larger holdings, increasing security and resilience. Since its establishment in 2016, Casa has been promoting multisignature self-custody and allows users to store Bitcoin using up to five keys for enhanced security. Casa originally targeted Bitcoin “whales” who were willing to spend $10,000 a year on custody but has now expanded its services to a broader user base and added an Ether vault to its platform.