Lucian Blaga University has said it will allow students to pay for their admission fees in crypto
According to an announcement from Lucian Blaga University (LBUS) in the Romanian city of Sibiu in Transylvania, it will allow students to pay their admission fees with cryptocurrency.
Lucian Blaga University has said it will allow students to pay for their admission fees in crypto
This organization LBUS plans to roll out cryptocurrency payment methods for its more than 11,000 students starting July. Students will reportedly be able to pay admission fees – around $ 1,000 per year for undergraduates – using Elrond (EGLD), which the university will then convert to Romanian dollars.
University Rector Sorin Radu stated:
“Our university has been and will continue to be a supporter of the community and local business, and the decision to develop this partnership with Elrond is part of this strategy.”
Started as an initial exchange offer from Binance Launchpad in 2019, Elrond has offices in the town of Transylvanian with more than 400,000 people and its team includes many local college graduates. The project said it plans to carry out other collaborations with LBUS in the future, including research.
Under the law implemented in July, exchange service providers that track purchases of cryptocurrencies with fiat currency and vice versa must now be authorized if they operate in Romania. Many cryptocurrency users handling digital assets in the country are required to use exchanges that incorporate Know your customer requirements and comply with the Anti-money laundering provisions in and out of the country.
Elrond has recently seen some significant changes, including its mainnet swapping last year when the ERD token became EGLD. At the time of publishing, the price of EGLD was $ 231, which was a 13% increase over the past 24 hours.
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