BENTLEY UNIVERSITY AMONG 1st COLLEGES TO ACCEPT CRYPTO
An independent, business-focused university said on Tuesday that students could now pay for both their undergraduate and graduate studies with Bitcoin, Ethereum and stablecoin USD Coin.
In a statement sent by email, a representative from Bentley wrote that the school wants to give students and their families the opportunity to use crypto to pay tuition fees as more than 200 million people worldwide are now using cryptocurrency.
"It makes sense for Bentley to adopt cryptocurrency because it is a technology that is changing the world economy that our students will soon enter," the statement read.
Asked about the security measures taken by Bentley to avoid being deceived when accepting crypto payments, Bentley said Coinbase "is a knowledgeable cryptocurrency platform that uses multiple authentication and other security measures to keep assets secure."
Bentley students have shown a growing interest in cryptocurrency and introduced the Bentley Blockchain Association, one of the first blockchain-led student groups in the nation, Bentley added.
At its site, Bentley University claims to be partnering with Boston-based Flywire Corp. ., which came out publicly last year, on tuition fees. The USD coin, one of the crypto currencies Bentley plans to adopt, was developed by another local crypto company, Circle Internet Financial Ltd., in partnership with Coinbase.
'No one yet'
Some local Boston universities do not offer their students the option to pay for crypto tuition fees, and they do not have any immediate plans to do so.
Julie Jette, deputy vice president of communications at Brandeis University, wrote "we are not yet there" in response to an inquiry into whether Brandeis plans to follow Bentley's steps. A spokesman from Tufts University confirmed via email that the university has no plans to accept crypto for tuition fees.
Boston University, Northeastern University, Harvard University, MIT and Suffolk University did not respond to requests for comment.
Across the country, a growing number of universities are beginning to accept your crypto for both donations and student fees.
Last fall, Wharton University of Pennsylvania School became the first Ivy League institution to adopt cryptocurrency as a tuition fee for a new blockchain certification program. Carnegie Mellon University and the University of California Berkeley are also among the institutions that have secured donations in the form of cryptocurrency.
In addition to education, vendors from local coffee shops to Starbucks Corp. (Nasdaq: SBUX) joins new startups like Microsoft Corp. In adopting crypto, especially Bitcoin, on other payments. Amazon.com Inc. , in particular, launched its cryptocurrency Amazon Coins in early 2013.