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Bentley University Makes Landmark Decision to Accept Crypto for Tuition

Bentley University Makes Landmark Decision to Accept Crypto for Tuition

Last updated 29th Jun 2022
Disclosure
  • Bentley University and leading US crypto exchange Coinbase partnered to enable payments
  • 16% of Americans have traded, invested in, or used cryptocurrency

Bentley University has become one of the first universities in the US to offer students the option to pay their tuition in cryptocurrency, highlighting its long-standing commitment to technological innovation. President E. LaBrent Chrite said:

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.

Partnership with Coinbase

Bentley University and leading US crypto exchange Coinbase partnered to make payments in Bitcoin, Ethereum and the stablecoin USD Coin possible. Coinbase is the biggest crypto exchange in the country.

In the near future, Bentley will start accepting presents and donations in Bitcoin, Ethereum and USD Coin.

16% of Americans have invested in crypto

Cryptocurrencies are becoming more and more important economically, affecting salary payment, the creation of new businesses, tracking payments, and more. 16% of Americans (more than 41 million) have traded, invested in, or used cryptocurrency according to the Pew Research Center.

The world cryptocurrency market is expected to grow from $910.3 million in 2021 to $1.9 billion in 2028, statistics by Fortune Business Insights show.

CryptoKim

Bentley student Alex Kim, better known by his nickname CryptoKim, was one of the first cryptocurrency adopter. He began buying Bitcoin in his teens.

Last year, he founded the Bentley Blockchain Association, one of the few student-led blockchain organizations in the country. Its members increased to 257 members within a few months.

Kim, who will speak at NFT.NYC, the world's leading NFT conference, said:

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.

This fall, there will be a new crypto finance course at Bentley, created due to increasing demand from the student body. It will focus on DeFi and blockchain applications.

The first university to issue NFTs

Last year, Bentley created NFTs to commemorate former women’s basketball coach Barbara Stevens’ entry into the Naismith Memorial Basketball Hall of Fame. It became one of the first universities in the world to create non-fungible tokens.

Daniela Kirova

Daniela Kirova

Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.