The cryptocurrency market continues to record massive success, as the digital assets in the space have continued to thrive, despite the ups and downs. Digital assets like Bitcoin and Ethereum have made their way into mainstream society, as they have become one of the most adopted cryptocurrencies by investors and traders in the market. However, the adoption of cryptocurrency has continued to grow higher, and Lucian Blaga University of Sibiu, Romania, is now the latest to adopt cryptocurrencies. The Transylvanian university has now announced to its students that they can now pay their fees with Elrond (EGLD).
Radu believes cryptocurrencies are the future of money
According to the Romanian university’s official announcement to its more than 10,000 students, the institution has announced that it has plans to start accepting EGLD as payment for school fees. The institution, which is expected to start a new session in July, has now informed its students that their $1,000 fees per annum can now be paid with EGLD.
This is a welcome development in the institution and the crypto community, which will be delighted that cryptocurrencies’ adoption has continued to be high, despite a few government regulations clamping on the Blockchain space.
In the statement of the University Rector- Sorin Radu, he expressed his delight at the new partnership with Elrond, as he believes that Romania is a crypto-friendly nation and, as such, this partnership will improve the general outlook of cryptocurrency in the nation and Europe.
Radu thinks that cryptocurrency is the future of money, and that is why his institution has fully embraced digital assets. While quizzed about whether the crypto payments will be held or converted instantly, Radu confirmed that the EGLD collected from their students would be converted to fiat currency immediately. However, the school head confirmed that the university is looking to explore institutionally investing in cryptocurrencies in the future.
Why Elrond?
While Bitcoin, Ethereum, and co. continues to be the most attractive assets, many analysts wonder why the university is going the Elrond way. The reason behind this is not far-fetched from the fact that Elrond technologies are one of the leading Blockchain technology firms in the region where the university is located.
Elrond is one of the most popular Blockchain technology platforms in Romania and has several offices in Transylvania- the same city Lucian Blaga University is located. The Blockchain company has more than 500,000 employees under its portfolio, with most of them being graduates of Lucian Blaga University.
The Blockchain company had always been in partnership with the university before now and has more plans in the future to incorporate Blockchain technology into the affairs of the school. The partnership between the school and the Blockchain technology firm is not expected to halt anytime soon, as the Blockchain firm whose token (EGLD) is currently trading around the $234 mark, will continue to introduce Blockchain technology to the Romanian University.