A public university within the Romanian city of Sibiu in Transylvania has outlined that it’ll now permit students to pay for their admission fees in crypto assets.
In line with an official announcement from the Lucian Blaga University of Sibiu or LBUS, on Wednesday, the institution plans to implement cryptocurrency payment methods for its over 11k students starting later in July. Students will reportedly be able to pay admission fees – tuition fees are roughly $1,000 per annum for undergraduates – using Elrond [EGLD], which the university will then convert to Romanian leu.
“Our university has been and can still be a supporter of the community and native business, and therefore the decision to develop this collaboration with Elrond is a component of this strategy,” added university Rector Sorin Radu.
Starting as an IEO [Initial Exchange Offering] from the Binance Launchpad earlier in 2019, Elrond has offices within the Transylvanian town of over 400k people and its team contains many graduates of the native university. The project revealed its plans to hold out other collaborations with LBUS within the future, including research.
In line with the legislation implemented earlier in July, exchange providers that monitor the acquisition of crypto with fiat currency and the other way around must now be authorized if they operate in Romania. Several cryptocurrency users handling digital assets within the country are required to use cryptocurrency exchanges that incorporate KYC [Know Your Customer] requirements and suit both domestic and foreign AML [Anti-Money Laundering] provisions.
Elrond has recently seen some significant changes, along with its mainnet swap last year as the ERD token became EGLD. At the time of reporting, the worth of EGLD is $231 USD, having risen over 13% within the past 24 hours.