TL;DR Breakdown
- Wharton university will allow students to pay their fees using the crypto payment method
- Only students intending to study its blockchain program will be allowed to use the method
- Coinbase will work as the oversight of the crypto payments for the school
In the last few years, cryptocurrencies have boldly staked their claim in the finance sector, undergoing massive growth. This is little wonder why the adoption of the assets has now gone mainstream. Not only do they serve as a means of earning profits, but some institutions and investments also use them as payment methods. In another win for crypto and to boldly stake its claim as a payment option, Pennsylvania, Wharton has announced that it will provide crypto payment options for tuition fees. The school will accept tuition payments in digital assets such as Bitcoin, Ethereum, and some other top tokens. However, the students provided with these options are the ones that will undergo their new program.
Coinbase will receive crypto payments for Wharton
According to the school, the new blockchain course will kick off in January 2022. Students who will undergo the course can choose to pay using the crypto payment option. The Economics of Blockchain and Digital Assets program will run for six weeks and cost a student about $3,800. Coinbase will act as the custodian for Wharton, acting as the bank to help collect the crypto payments. The introductory class to crypto and blockchain will be made available on Coursera to students that intend to partake. The course aims to provide students with extensive knowledge of fintech and cryptocurrencies.
World Economic partnership spells good fortune for Wharton
The Wharton business school was in the headlines in the early parts of the year when it was the recipient of a $5 million generous gift in leading digital asset, Bitcoin. The gift was sent to the school in May, and at the time, it was equal to 118 BTC. The Wharton school decided to sell the assets for cash at the period. Since then, Bitcoin has seen bullish runs, and if they held on to it, they would be roughly $2 million richer.
The school mentioned that they instantly liquidate all crypto donations received at the donation period, no matter how big or small. It also pointed out that the money gotten from the donation will be pooled towards the support of the Stephens Center for Innovation in the school.
A previous report that made the rounds also pointed at a partnership between Wharton business school and the World Economic Forum. The project is led by Professor Kevin Werbach, who is looking into the business and regulation of blockchain. With Wharton leading the way to provide students with crypto payments methods, other institutions might follow this train.
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