Bentley University, based in the United States, announced that it has now added the option to pay tuition fees in cryptocurrencies. This move makes Bentley one of the first universities to accept cryptocurrencies for tuition payments.
Massachusetts-based University in an announcement early this week stated that it was providing new payment options for students in compliance with its long-term commitment to lead the way in the early adoption of technologies that are disrupting the business world.
To implement the new payment option, the University also declared that it has collaborated with Coinbase, a crypto exchange, which would be acting as its payments and custody services provider.
As per the announcement, the university will be partnering with Coinbase to accept three cryptocurrencies – namely, Bitcoin, Ethereum, and the stablecoin USD Coin- offering a new way for payments to students and their families.
To accept donations and gifts in the mentioned cryptocurrencies were other plans of the university, it didn’t give any reference to other coins.
Interestingly, a student who graduated from Bentley University founded the Bentley Blockchain Association. This is a success story for the institution as it moves towards the rapid adoption of cryptocurrencies.
In a statement, E. LaBrent Chrite, the president of E. LaBrent said Bentley University is at the center of preparing leaders with the knowledge and skills to attain success in the ever-changing sphere of the economy.
Chrite further notes that the university is proud to adopt this technology in which students are educated and which will soon change the sphere of global space they will be entering.
The youth have become an important aspect of the blockchain and crypto space as cryptocurrencies are becoming more and more vital in the world’s economy. 16% of the US adult population have either traded, invested in, or used cryptocurrencies, as per a recent report by the Pew Research Centre.
Most of the crypto users, 31% to be precise, are between the age group of 18 to 29. While 30 to 49 years old accounts for 21% and just 8% of users are between the age of 50 to 64.
By 2028, the value of the global crypto market is forecasted to double. As a result, demand will increase, and therefore, there is a need for introducing crypto-focused curriculums for learners.
The 104-year-old university has already made plans to launch a new crypto finance course whose focus would be on DeFi and blockchain applications, which is inflamed by the student’s interest in emerging technology.
California Intercontinental University, The University of Pennsylvania’s Wharton School, and King’s College in New York are the learning institutions that are accepting tuition payments in crypto.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/05/08/u-s-based-bentley-university-to-now-accept-tuition-fees-in-crypto/