Uphold Adds XRP, Bitcoin Inheritance, Citing $331 Billion Stranded

“Uphold Vault Inheritance gives our customers something major players in the industry haven’t offered before: a credible, straightforward way to ensure their crypto goes exactly where they intend it to.”

How Beneficiaries Receive Control of the Assets

Customers begin by inviting a beneficiary from their dashboard, which sends notification and account setup instructions to the designated person. That person establishes an account with the provider to accept the eventual distribution. Customers can change their selection during their lifetime. The company says the beneficiary needs no previous experience with digital currencies.

After the customer’s death, the compliance support team reviews legal documentation before approving a claim and transferring the holdings into the recipient’s wallet. Until approval, the funds remain in the deceased customer’s account. This procedure addresses a practical obstacle illustrated by families losing access to inherited cryptocurrency.

Access arrangements have historically involved passing passwords, personal identification numbers (PINs), and recovery information to a trusted family member. A 2017 account described written instructions and backup seed phrases stored for that purpose. These phrases are sequences of words used to restore a wallet when a device or its login details are unavailable.