Wharton Business school started accepting Bitcoin payments for tuition and all students that will sign up for the online course can pay in both BTC and ETH as we can see more in our latest bitcoin news today.
The payment option is first for a US university and the payment option relies on the Coinbase commerce with it being limited for a single course. The Wharton Business School at the University of Pennsylvania is launching an executive education program in blockchain and will allow students to pay for it in crypto and with it to become the second American college to accept Bitcoin. Starting today, the students can choose crypto from a tuition payment menu that includes credit cards and PayPal, and those who choose this option can pay with Bitcoin Ethereum or USDC stablecoin.
Wharton will rely on coinbase Commerce to process the payments and the platform will charge merchants a 1% fee to use this service but the school won’t pass the fee to the students. According to the Coinbase spokesperson, the payments can be made with any on-chain wallet. For now, the payment option is limited to those that will enroll in the six-week executive education course dubbed “Economics of Blockchain and Digital Assets” which is offered online and aimed at professionals from the finance world. Reed Cataldo, one of the course administrators noted:
“It costs less than one Ethereum [token] at current prices.”
The broader Wharton Business school has yet to introduce the crypto tuition payments but according to Cataldo, the blockchain payment option will likely be adopted somewhere else at Wharton as well as the other schools in the future. In the meantime, the University of Pennsylvania is no stranger to BTC as the school already announced earlier this year that it had accepted a crypto gift from an anonymous donor that gave $5 million in BTC to support more innovation in finance. Penn requires crypto donations to be at least $10,000 started accepting crypto gifts for years as well as other American universities as well.
Until now, only one other college allowed students to pay tuition in crypto which was the King’s College in New York that started the practice in 2014. plenty of other overseas schools started accepting Bitcoin and they include the Lucerne University of Applied Science in Switzerland as well as the FPT University of Vietnam.
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