Bitcoin self-custody platform Casa announced that it’s launching a new inheritance product — Casa Inheritance — for its global customer base.
CasaMultisig vaults help crypto investors protect their BTC, and other digital asset, with ease., which is known to assist in the security of their BTC, as well as their other digital assets, wants its clients to be able to easily transfer their digital assets when they pass away.
“What we’ve found through talking to our customers is that their family members do not know how to use a hardware wallet and do not want to [use them],” Bitcoin Magazine quotes Nick Neuman as the co-founder and CEO Casa.
“This lets them have an experience that feels really comfortable. They just use the Casa mobile app to access [the] funds. It reduces anxiety [at] a time when they’re already feeling pretty anxious,” He added.
Casa Inheritance uses the same technology to underpin all its products, multi-key vaults. For access to these vaults, customers must combine different private keys using a protocol of security known as Multi-Signature. “multisig.”
According to a Bitcoin Magazine press release, Casa Inheritance includes a 3-key safe and costs $250 per annum. A user needs only two keys to open the vault and access the money.
It works like this. A Casa user grants another person access to the Casa app. In the event that the customer becomes incapacitated the recipient may request to access the vault through the Casa app. A six-month wait period will then begin.
A notification is sent to the client. The recipient can access the account if they do not decline the request. This is done using the shared private key and another Casa private key. The entire process is done with no KYC (knowing your customer) requirement.
Casa originally only offered the service to private members. But since spot bitcoin exchange-traded funds (ETFs) have been introduced, Casa has had more requests from clients who want to store actual BTC or transfer them between generations.
“After the ETFs launched, we’ve been getting more [inquiries] from people [who are] realizing that one of the really big benefits of bitcoin is that you can own it yourself,” Neuman spoke to Bitcoin Magazine.
“For people who are using Bitcoin as a hedge against systemic risk in the legacy financial system, you cannot hold Bitcoin in an ETF and still have that same investment thesis,” He continued. “So, [our new clients] have been thinking about their thesis and what types of solutions actually align with it. The one that aligns with that type of hedge is self-custody.”
“So, then you need to think: Within the realm of self-custody, how do I make sure I have a solution that’s secure, easy to use and solves all of the problems that I would need to solve if I were holding a meaningful amount of wealth in bitcoin? And inheritance is a huge part of that. [They] need to make sure that wealth can actually be passed from generation to generation.”
Casa Inheritance’s Website is the best place to find out more about this product and Casa’s others. https://casa.io/.
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Source: bitcoinmagazine.com
