American university accepts cryptos for tuition payments

Bentley University is partnering with Coinbase to accept payments in BTC, ETH and USDC

Bentley University’s campus in Massachusetts                                 
The Bentley University campus in Waltham, Massachusetts – Photo: Alamy

Bentley University, a private university focused on business and located in Waltham, Massachusetts, US, is now accepting cryptos for tuition payments. 

The university said it is committed “to leading the way in the early adoption of technologies changing the business world”.

In order to do this, the university is partnering with Coinbase, the largest cryptocurrency exchange in the US, to accept three cryptos as payment: bitcoin (BTC), ether (ETH) and USD Coin (USDC).

Bentley is also planning to accept gifts and donations in BTC, ETH and USDC.

Over 41 million Americans have used cryptos

According to the Pew Research Center, a non-partisan American think tank based in Washington DC, more than 41 million Americans have either invested in, traded or used cryptos. That number equates to 16% of the US adult population.  

In 2021 Alex Kim, a Bentley student, set up the Bentley Blockchain Association, which is one of the few student-led blockchain groups in the US. The group now has 257 members.

Kim said: “Students have a real interest in knowing more about blockchain, decentralised finance (DeFi) and cryptocurrency investments. These technologies are influencing the industries where they will be working.”

Student interest led to the creation of a new crypto finance course, which was unveiled at Bentley this year and focuses on “blockchain applications and DeFi”.

Basketball hall of fame NFTs

After former women’s basketball coach Barbara Stevens, who was previously a coach at Bentley, was inducted into the Naismith Memorial Basketball Hall of Fame in May 2021, the university released its first ever non-fungible tokens (NFTs) in June 2021 to celebrate this.

Brent Chrite, president of Bentley University, 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.”

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