Bentley University in the United States is now accepting cryptocurrencies for tuition payments, in addition to a variety of other payment methods, making it one of the first universities to do so.
The Massachusetts-based university announced earlier this week that it was introducing the new digital option to students as part of its “long-standing commitment to leading the way in the early embrace of technology reshaping the business world.”
To get things started, the university announced a partnership with cryptocurrency exchange Coinbase, which will handle payments and custody.
“The institution has partnered with Coinbase to accept three cryptocurrencies: Bitcoin, Ethereum, and the stablecoin USD Coin, providing students and their families with additional methods to pay their tuition.” According to the announcement, the University also intended to accept gifts and donations in the cryptocurrencies indicated above, with no reference to additional currency.
Bentley University has had its own success story with the quick uptake of cryptocurrencies, having produced a student who created the Bentley Blockchain Association.
As cryptocurrencies continue to play a larger role in the global economy, young people have been among the most active participants. According to a recent Pew Research Centre study, 16% of the adult population in the United States has invested in, traded, or used cryptocurrencies.
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