Bentley University in the US starts accepting tuition payments in crypto

Bentley University in the US state of Massachusetts is one of the first educational institutions in the country to accept tuition fee payments made in Bitcoin (BTC), Ethereum (ETH), and the stablecoin USD Coin (USDC). The school is also highlighting the increasing importance of digital assets in the global economy.

Despite the current bearish decline going through the crypto market, the adoption of digital assets around the world is growing as governments and institutions become open to their use – including a small private university outside Boston.

The business school announced on May 3 that it will be accepting these payments through its partnership with one of the world’s largest crypto exchanges Coinbase. It also plans to accept donations and gifts in crypto.

“Students have a real interest in knowing more about blockchain, decentralized finance, and cryptocurrency investments. These technologies are influencing the industries where they will be working,” said Alex Kim, an early crypto adopter and one of Bentley’s students, who launched the Bentley Blockchain Association in the fall of 2021.

Thanks to the student interest, Bentley University has also introduced a new crypto finance course that will begin in the fall of 2022 and will focus on blockchain applications and decentralized finance (DeFi).

In its announcement, the school echoed Kim’s position, highlighting the increasing importance of digital assets in the global economy, the creation of startups, payments of salaries, payment tracking, and even minor things like purchasing tickets to games and concerts.

Further, the business school quoted a study by the Pew Research Center, which has found that over 41 million Americans or 16% of U.S. adults had invested in, traded, or used crypto. Also, the school referred to Fortune Business Insights which projected the global crypto market would more than double by 2028.

Meanwhile, as recently reported, Citizen School in Dubai took steps to bring crypto into the education sector by accepting tuition payments made in both BTC and ETH through a digital platform that automatically converts crypto into the UAE dirhams (AED).