Wharton Business School accepts cryptocurrency as payment for school fees
This Thursday, October 28, 2021, the Wharton School announced that it will now accept payment of tuition fees in three cryptocurrencies: Bitcoin (BTC), Ether (ETH) and USDC stablecoin. The business school is part of the University of Pennsylvania, a member institution of the Ivy League, a coalition of 8 elite universities on the east coast of the United States. The Wharton School is considered one of the most prestigious business schools in the world.
As a first step, cryptocurrency payments will be reserved for students enrolling in the six-week course titled “Blockchain and Digital Asset Economics,” reports a Bloomberg article. This exclusively online course is for “business and technology professionals looking to learn more about blockchain and digital assets.” It is billed at $ 3,800 and will start in January 2022.
👉 Also read: Walmart has installed 200 Bitcoin (BTC) vending machines in its American supermarkets
Prestigious University Uses Coinbase Payment Solution
To set up the payment system, the Wharton School has teamed up with Coinbase, one of the largest cryptocurrency exchange platforms. The school will use Coinbase Commerce, the payment solution that helps businesses accept cryptocurrency payments, as part of its project.
Eventually, other branches of the University of Pennsylvania are expected to accept cryptocurrency payments. The establishment already showed its interest in the digital currency sector last May. The prestigious university had accepted a donation of $ 5 million in cryptocurrency from an anonymous benefactor.
“This investment marks a new era and a new way of offering the University and its students the opportunity to become the financial leaders of tomorrow,” Erika James, Dean of Wharton, said in a press release.
It is not the first school to accept cryptocurrency as a payment method for tuition fees. Since 2014, King’s College New York has allowed students to pay fees in Bitcoin. This is also the case of the University of Applied Sciences of Lucerne in Switzerland and the FPT University of Vietnam since 2017. More recently, the American University of Paraguay and the New Oxford Science Academy of Nigeria have followed suit. with similar announcements.
👉 On the same theme: This Australian pension fund plans to invest in cryptocurrencies
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About the author: Florian Bayard