Binance Launches Will Function for Digital Asset Inheritance

Binance, a prominent global cryptocurrency exchange, has launched a new feature called the "Will Function," enabling users to designate beneficiaries for their digital assets in the event of death or incapacitation. This update, announced on June 12, 2025, is part of Binance's ongoing efforts to enhance user security and asset management. The feature allows users to appoint emergency contacts and set inactivity triggers, ensuring that their digital wealth, including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), is distributed according to their specified instructions.

The "Will Function" addresses a critical gap in the cryptocurrency industry, where the loss of digital assets due to death, incapacitation, or abandonment has been a significant issue. Changpeng "CZ" Zhao, the founder of Binance, emphasized the importance of this feature in preventing irreversible asset loss and ensuring that digital assets can be transferred to designated accounts. Zhao also highlighted the need for regulatory frameworks that allow minors to have accounts, even if they are restricted from trading, so that they can receive funds.

The process of setting up the "Will Function" is straightforward. Users can designate one or more emergency contacts in the Customer Support section under "Self Service → Legacy Inheritance." If the user's account exhibits prolonged inactivity, notifications are sent to both the user and the emergency contact. Once inactivity is confirmed, the emergency contact uploads the necessary documents, including a death certificate, ID, and proof of relationship, via Binance's secure portal. Binance's inheritance team then reviews the claim, and upon approval, transfers the eligible crypto assets to the beneficiary's Binance account within 1–2 months.

This feature aligns with Zhao's broader vision of responsible leadership in the cryptocurrency industry. By embedding inheritance tools at the platform level, Binance offers a practical alternative to decentralized wills, smart contracts, or legal trusts that many users find inaccessible or technically daunting. The update has drawn widespread acclaim from stakeholders, including industry experts who recognize the importance of safeguarding digital assets for the ecosystem's credibility.

The introduction of the "Will Function" comes at a time when there is growing demand for crypto estate planning solutions. While other services offer decentralized inheritance via smart contracts, these options often require technical know-how and external setup. Binance's approach stands out by integrating the system directly into its custodial exchange, simplifying accessibility for millions of global users. This move not only enhances user security but also reinforces Binance's commitment to providing comprehensive and user-friendly solutions in the cryptocurrency space.

Zhao urges all crypto platforms to adopt will functions for seamless asset transfer, emphasizing that planning digital asset succession is an issue whose urgency is highlighted in his post. He also made suggestions on the change of regulations to enable the minors to maintain accounts to receive their inherited funds, but with limited trading capability to match the traditional finance trust funds. The feedback among the community has been mostly positive, and users have showered praise on the foresight of the feature. Others, though, propose to extend it to such intangibles as tokenized wealth or social media influence. Binance has not responded to these proposals but is still in the process of improving its platform in terms of user feedback. The crypto inheritance tool is representative of the overall Binance mission to make the platform more secure and accessible to users.