Bentley to accept cryptocurrency for tuition payments

Bentley College has entered the cryptocurrency globe, announcing this 7 days that it will now accept the digital forex for tuition payments.

The announcement would make Bentley, a non-public college in Waltham with a aim on business, one particular of the to start with universities in the US to provide crypto as a payment option.

In partnership with crypto exchange platform Coinbase, Bentley will let students to fork out their tuition with any of 3 cryptocurrencies: Bitcoin, Ethereum, and stablecoin USD Coin. The university will also acknowledge items and donations by these cryptocurrencies.

“Bentley University is at the forefront in getting ready enterprise leaders with the expertise and awareness to do well in the switching globe economic system,” explained E. LaBrent Chrite, Bentley’s president, in a statement. “We’re proud to embrace this know-how that our learners are understanding about, which will soon rework the world business enterprise landscape they’re about to enter.”

To defend from crypto’s value volatility, payments will automatically be exchanged into US dollars underneath Bentley’s agreement with Coinbase, a university spokesperson said. The university will operate to prevent crypto scams as a result of Coinbase, which utilizes “multi-aspect authentication and other protection actions to maintain property protected,” the spokesperson additional.

The conclusion comes as a growing selection of establishments are lending legitimacy to cryptocurrency as a type of payment or financial commitment: Several universities such as the University of Pennsylvania are now acknowledge cryptocurrency for donations, and previous 7 days Fidelity Investments announced that it would be introducing bitcoin to its 401(k) options for businesses. King’s Higher education in New York City turned the 1st US school to accept bitcoin for tuition in 2014.

Bentley will give a finance study course this fall “focused on blockchain purposes and decentralized finance,” according to its statement on Tuesday. The college is house to one of the couple pupil-led blockchain teams in the country, the Bentley Blockchain Affiliation.

Annie Probert can be arrived at at [email protected].