TL;DR Breakdown
- Universidad Americana adopts BTC and ETH as legal tender for tuition fees.
- Crypto adoption continues to grow in Paraguay.
The Universidad Americana, a privately run Paraguayan university, has announced its plans to accept tuition payments in cryptocurrency from August 1, 2021.
The university, situated in Asunción, says it will kickstart by initially accepting Bitcoin (BTC) and Ethereum (ETH) payments – two of the world’s most significant digital currencies.
Crypto adoption strengthens in Paraguay amid uncertainty
The announcement by the Paraguayan university comes in the wake of the proposed bill announced by pro-crypto congressman Carlos Rejala. Carlos was quoted to have said that:
After announcing the move to legalize digital currencies in the country for all kinds of transactions, several firms have joined the moving train to usher in a new epoch of transactions, and we are proud of this move.
The bill is due for presentation on July 14, 2021, and as per BeInCrypto.com, it will enable the use of cryptos as a legal tender within the territories of the country.
Following recent moves by El Salvador to integrate cryptocurrencies into its economy, Paraguay also seeks to leverage Bitcoin and others.
Grupo Cinco, one of the nation’s most extensive entertainment groups, took to Twitter last week to announce that the entirety of its business fleets has started accepting crypto payments like BTC, ETH, SHIB, and CHZ.
Universidad Americana joins the league of crypto-friendly institutions
According to a report issued in Spanish by BeInCrypto.com, the move by Universidad Americana brings the number of crypto-friendly academic institutions on the globe to eight (8).
The seven other institutions are:
- Massachusetts Institute of Technology (MIT), US
- Simon Fraser University (SFU), Burnaby, Canada
- The University of Nicosia (UNIC), Cyprus
- LUASA (Switzerland)
- The University of Cambria, United Kingdom
- Pompeu Fabra University (PFU), Spain
- ESMT Berlin
