One of the key problems for owners of cryptocurrency and their heirs is the inability to gain access to their digital assets for technical (lost codes) or physiological reasons (the death of the owner). According to estimates by the New York Times, crypto wallets containing more than  USD 140 billion in assets were blocked for these reasons as of the beginning of 2021. When a  businessperson working in cryptocurrency markets dies suddenly, it is often not only their loved ones who suffer but also their clients. The best-known case is the death in 2018 of Gerald Cotten, the founder of the largest cryptocurrency exchange in Canada, Quadriga CX; as a result, 115 thousand clients lost access to their funds. 

Renaissance Life ( has signed a cooperation agreement with the founder of the decentralized financial project Independent Decentralized Finance SmartBank &  Ecosystem (InDeFi SmartBank,, the well-known Russian businessman  Alexander Lebedev. The InDeFi SmartBank project envisages developing and rolling out a  service that will confirm a client’s death and use that information to launch a mechanism for the inheritance of digital rights and assets. 

According to the parties to the agreement, InDeFi SmartBank will take responsibility for developing smart contracts and launching inheritance procedures. This will enable clients, in the event of their death, to transfer their digital assets to the beneficiaries specified by them.  Renaissance Life, in turn, will be responsible for confirming the client’s death. 

This unique collaboration between an insurance company, which has an excellent reputation  and enjoys the trust of its customers, and a leading Russian project in the DeFi technologies  sector should solve one of the main problems facing the crypto industry today. At least 500  thousand people are expected to use this service in the coming year. 

Renaissance Life Insurance Company LLC has been operating in the life and health insurance  market since 2004. The Company reliably meets its obligations to its customers and insured  parties. 

Renaissance Life LLC is one of the largest providers of life, accident and health insurance in  Russia, operating more than 90 branches and agencies throughout the country. Renaissance Life  is a partner of the Podari Zhizn charitable foundation. 

The Independent Decentralized Finance SmartBank & Ecosystem is a decentralized financial  blockchain service launched in 2020. The InDeFi SmartBank team consists of professionals with  years of experience in banking, finance and investment projects; the crypto industry; the public  sphere; philanthropy; and many other sectors.

InDeFi SmartBank develops smart contracts and provides a wide range of services for cryptocurrencies and digital asset management, as well as audit, consulting and marketing  support for innovative projects.