Casa has released its inheritance product on a worldwide scale, solving the pressing problem of safely passing digital assets like stablecoins, Bitcoin, Ether, and others to future generations.
Casa goes beyond conventional custodial and hardware wallet solutions by providing a safe and easy way to inherit cryptocurrency with its multi-key vault technology. The service utilizes a multi-signature configuration to strengthen security by demanding several permissions for transactions, and users may set up limited access for a chosen recipient.
The revolutionary inheritance product from Casa, a frontrunner in the self-custodial digital asset solutions market, is now accessible to clients all across the globe, marking a major milestone for the company.
Casa sees this as a direct response to the biggest problem with self-custody, which is the security of digital assets like bitcoin, ether, and the stablecoins USDT and USDC, and how to solve it.
Digital assets may be more easily passed on with the help of the Casa Inheritance tool. The security of custodial providers and hardware wallets has been a point of criticism in the past, but this new system offers a strong alternative.
The business has broadened its service offering, which was previously available only to American clients with large bitcoin holdings, by utilizing its multi-key vault technology. For as little as $250 a year, members may use this technology to provide a trusted individual, such as a relative, trustee, or executor of an estate, limited but secure access to their digital vault.
Casa’s multi-key vaults provide an extra layer of protection above single-key solutions by allowing up to five keys to access and manage assets. Customer feedback and developments in Ethereum support led to an expansion of this configuration last year to handle stablecoins and ether in addition to bitcoin.
To protect funds in the event of a compromised key, the multi-signature (multisig) method mandates permissions from several devices for transactions. Casa goes above and beyond by offering an emergency recovery service that stores a backup key for customers, enhancing security even further.
Inheritance is a feature that allows users to exchange encrypted, locked keys with a specified recipient using the Casa app. Members may conditionally grant access to their vault. The beneficiary has the authority to start the transfer process in the event of the member’s incapacity. Casa tries to inform the member of the impending transfer within the six-month waiting period that this request starts. After that time has passed, the receiver will be able to enter the vault.
Also Read: US Treasury securities worth over $1 billion have been tokenized on-chain March 28, 2024
Wallets