Changpeng "CZ" Zhao, founder and former CEO of Binance, has called for cryptocurrency platforms to implement inheritance functions, allowing users' assets to be distributed to their heirs. This statement was made on the social media platform X.
"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 proportion," said Zhao. "This is a topic people avoid, but the fact is, humans cannot live forever. People can confidently store value on platforms once they know it is transferable when they will be gone. Regulatory frameworks should also allow minors to have accounts (they can be restricted from trading, but should be allowed to receive funds)."
Zhao has consistently advocated for enhanced security and asset management features in cryptocurrency platforms. He proposed a "will function" to ensure digital assets can be transferred upon a user's death. According to BeinCrypto, the inevitability of death makes it crucial for digital asset holders to have mechanisms that allow their heirs to access funds securely and efficiently. By championing these user-centric policies, Zhao emphasizes the importance of both technological solutions and regulatory frameworks in protecting the long-term interests of cryptocurrency users.
According to Crypto Briefing, Zhao also urged regulators to permit minors to hold accounts with restrictions preventing trading but allowing them to receive inherited funds. This proposal would enable children to legally receive assets left by parents, effectively expanding inheritance frameworks and financial inclusion within digital asset services. By separating custody and trading capabilities, Zhao proposes a balanced approach that addresses both protection and access.
While Binance recently introduced its "emergency contact and inheritance" feature, making it one of the few global crypto exchanges to directly address the issue of asset transfer after death, other major platforms lag behind. For example, Coinbase—the largest U.S.-based exchange—currently does not offer a native inheritance or emergency access function, requiring heirs to navigate legal and support channels instead. Similarly, Kraken and Gemini have yet to implement dedicated inheritance tools, though some provide basic account recovery through legal processes. By contrast, OKX and Crypto.com have acknowledged the need but have not yet launched concrete solutions. This disparity highlights which platforms are taking proactive, responsible steps to safeguard user assets for future generations, and which are leaving a crucial gap in user security.
According to Forbes, Changpeng Zhao, widely known as CZ, is the founder and former CEO of Binance, the world’s largest cryptocurrency exchange by trading volume. CZ is celebrated for his entrepreneurial spirit and vision, having built Binance from its inception in 2017 into a global leader in crypto innovation, security, and accessibility. His leadership is credited with advancing user-friendly solutions, promoting financial inclusion worldwide, and consistently advocating for responsible industry practices, qualities that have earned him recognition as one of the most influential figures in the cryptocurrency sector.