Bentley University is now accepting cryptocurrency for tuition payments. It, therefore, became the first university in the US to offer students this new digital payment option, hinting at its commitment of innovating as per the user needs and leading a change by the early adoption of such technologies.
“Bentley University is at the forefront in preparing business leaders with the skills and knowledge to succeed in the changing world economy. We’re proud to embrace this technology that our students are learning about, which will soon transform the global business landscape they’re about to enter,” said university President E. LaBrent Chrite.
To ensure the seamless transaction between students and the university, Bentley has partnered with Coinbase and will be accepting three different cryptocurrencies- bitcoin, Ethereum and stablecoin USD coin. This will allow families to pay the tuition fees in cryptocurrency. As the next move, Bentley is also planning to accept donations in bitcoin, Ethereum and USD coin.
Bentley’s going with the flow
As the world slowly transitions towards such leading-edge technologies, cryptocurrencies, undoubtedly, will play an enormous role in scripting this new chapter of the economic market. Reports suggest that more than 41 million Americans – 16% of US adults have invested, bought, traded, or used cryptocurrency. Fortune Business Insights project that the global cryptocurrency market will double from $910.3 million in 2021 to $1.9 billion in 2028.
The creator of the Bentley Blockchain Association, Alex Kim, started investing in cryptocurrency since high school and today leads the group of 257 members in the university. “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 Kim, who will be a speaker at NFT.NYC, the world’s leading event, focused on non-fungible tokens or NFTs. The growing interest amongst students has led to the creation a new crypto finance course to be launched this fall. This course will focus on teaching students about blockchain applications and decentralized finance.
Adopting cryptocurrency for the future
Bentley University is accredited with using another digital technology to celebrate Barbara Stevens induction into the Naismith Memorial Basketball Hall of Fame. They created NFTs and digital collectibles bought and sold on blockchains, commemorating the milestone. Moreover, Bentley University is one of the first universities to issue NFTs globally.