romanian university plans to accept admission fees in crypto

Romanian University Plans to Accept Admission Fees in Crypto

Cryptocurrencies come into the physical world day by day, mostly with payment solutions. This time, the Lucian Blaga University of Sibiu in Romania has announced it will give access to college students to pay their admission fees in cryptocurrency.

A reporter for the University posted on the official website of Lucian Blaga University mentioning, it will be the first university in Romania to make real payments of fees for admissions in a virtual currency.

The educational institution plans to allow crypto payment methods for more than 11,000 students. Starting from July, Students will be able to pay admission fees using the cryptocurrency, Elrond (EGLD).

But why Elrond? They should’ve proceeded with another better cryptocurrency. The reason behind this, Elrond has offices in the Transylvanian town which is the same town that the University located. And most of the team members of Elrond also graduated from the same University.

Prof. Univ. Dr. habil. Sorin Radu, rector of the ” Lucian Blaga” University of Sibiu said,

“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,”

Elrond released in 2019 as an Initial Exchange Offering from the Binance Launchpad. It has recently gone with a mainnet swap in 2020 as the ERD token became EGLD.

However, as Cointelegraph reported, exchange providers that monitor cryptocurrency purchases must now be authorized if they operate in Romania. Cryptocurrency handlers in the country need to use an exchange that allows KYC requirements and comply with both domestic and foreign Anti-Money Laundering provisions

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