• Binance founder CZ has urged crypto platforms to add a "will function" to manage asset transfer after user death.
  • Binance recently launched an emergency contact and inheritance feature to address posthumous crypto asset access.

As the crypto industry matures, a new conversation is emerging—what happens to your digital assets after you're gone?

Former Binance CEO Changpeng “CZ” Zhao has reignited this debate by urging crypto exchanges to implement a “will function,” a feature that would allow users to assign heirs to their digital wealth in the event of their death.

“This is a topic people avoid, but the fact is, humans cannot live forever,” CZ wrote on X (formerly Twitter).
“Every platform should have a ‘will function’ so that when someone is no longer around, their assets can be distributed to designated accounts according to specified proportions.”

The call came shortly after Binance launched an emergency contact and inheritance application feature on June 12. The new tool enables users to assign emergency contacts, who can be notified after a period of inactivity and then begin the process of claiming the user’s assets. It’s a notable step by a major exchange in addressing a topic that has often been overlooked in the fast-moving world of crypto.

Online, CZ’s comments sparked lively discussion. Some users applauded the move, highlighting how billions in crypto are lost each year due to the absence of proper inheritance tools.

One user noted that Binance’s step could set a new standard for centralized platforms, while others questioned whether relying on such systems compromised the core principle of self-custody.

Some were quick to point out the risks on both sides.

“If I self-custody and screw up, I lose my crypto. But if I leave it on Binance and don’t die properly (with emergency contact set), I also lose my crypto,” one user quipped.
Another commented, “Self-custody is a double-edged sword… You need to be the IT department for your own assets.”

Still, others welcomed the conversation itself as a sign of crypto’s ongoing evolution. There was even discussion around CZ’s suggestion to allow minors to hold crypto accounts that could accept inherited assets, accounts that would remain inactive until the minor reaches adulthood.

While Binance’s update may be among the first of its kind, it likely won’t be the last. As digital assets continue to become a key part of personal wealth, the pressure is building on crypto platforms to provide solutions not just for trading but for legacy.

Edited by Harshajit Sarmah