Digital Financial Exchange (DIFX) has launched a number of new features that it hopes will put in the same league as more established exchanges like Binance and Coinbase. And one is what do with your crypto when you die.
Speaking at Crypto Expo Dubai, company CEO Jeetu Kataria unveiled what he calls its Nomination Program, which allows users to pass on their assets to beneficiaries in unforeseen circumstances, such as their death.
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The exchange says that this is the first-of-its-kind and is geared at relieving clients of “pain points, apprehensions or obstacles,” according to Kataria.
“This reflects our customer-centric approach and our firm belief in ensuring that trust and continuity of service are paramount even in the harshest circumstances,” said Kataria.
Founded in Sept 2021, the exchange has expanded to the Middle East and started to lay the groundwork for entry into the African and Southeast Asian Markets.
According to a press release, the exchange prides itself on being a “fully insured cross-asset” trading platform with a partnership with Fireblocks, a leading custodian in the cryptocurrency ecosystem.
The transfer of assets when someone dies is a major challenge in crypto. A study by Chainalysis puts the number of lost Bitcoin (BTC) at between $2.7 million and $3.79 million, while a number of dormant addresses are rumored to be the addresses of dead HODLers.
Crypto Expo Dubai is a two days event that include solutions from exhibiting companies, presentations from over 90 speakers, panel discussions, Q&A sessions and an award ceremony.
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