The announcement of the educational institution echoes the new law that the Paraguayan Congress plans to process to attract companies dedicated to cryptocurrencies
As of August 1, the American University of Paraguay will accept payments for its tuition in cryptocurrencies. For now, the educational institution will only receive Bitcoin (BTC) and Etherum (ETH).
The news, published on Twitter by the educational institution, located in Asunción, is made less than ten days after the deputy Carlos Rejala announced that on July 14 a bill will be presented that will allow the use of cryptocurrencies as a means of usual payment. In this way, it joins other initiatives in the region, such as those presented in Panama or El Salvador.
University opening to cryptocurrencies
With the American University of Paraguay, with thirty years of existence in the South American country, there are already eight higher education institutions in the world that accept cryptocurrencies.
The other seven universities are:
Massachusetts Institute of Technology of the United States
Pompeu Fabra University of Barcelona in Spain
Simon University Phrase of Canada
University of Cumbria in the UK
University of Nicosia in Cyprus
German ESMT International Business School
Lucerne University of Applied Sciences and Arts in Switzerland
What’s more, The Paraguayan educational institution becomes a pioneer in the region by becoming the first university in Latin America to accept cryptocurrencies.
Boost from universities to the crypto world
That universities accept cryptocurrencies in their payments is something new and exceptional. However, the relationship between universities and cryptocurrencies goes back a long way, since it has been precisely the educational institutions that have been interested in promoting both the research and the development of these technologies.
For example, at the beginning of 2021 the network of polytechnic institutions, Tecnológico Nacional de México, and IBM, signed an agreement for the training of professionals in Blockchain. In Spain, for its part, the University of Alicante decided to use the Blockchain for the traceability of cannabis, while the University of the Balearic Islands decided to use it to combat climate change through an agreement with the firm True World.
The post The American University of Paraguay will accept payments in cryptocurrencies was first seen on BeInCrypto.