University of Nicosia becomes the world’s first accredited institution to accept Bitcoin

The University of Nicosia (UNic), in Chipre, has just announced it’s allowing students to pay their tuition and other fees with Bitcoin from now on.

Besides, the university, the largest in the country, will also offer a Master’s of Science Degree in Digital Currency, which will be available online and on-campus starting in 2014.

“We are acutely aware that digital currency is an inevitable technical development that will lead to significant innovation in online commerce, financial systems, international payments and remittances, and global economic development”, Christos Vlachos, UNic’s chief financial officer, said.

unic-aerial_1This decision makes UNic, one of the largest accredited English language universities in the Euro-Mediterranean region, the first Bitcoin-friendly institution of its kind in the world. The payments will be processed by the platform Neo & Bee.

Previously, the Draper University, in California (US), also announced that students could pay for their tuition with virtual coin and the Guatemalan University Francisco Marroquín is still taking Bitcoin donations.

“Digital currency will create more efficient services and will serve as a mechanism for spreading financial services to under-banked regions of the world. In this light, we consider it appropriate that we implement digital currency as a method of payment across all our institutions in all cities and countries of our operations”, Vlachos added.

That is why, from now on, it will be possible to spend your Bitcoins at all institutions and programs connected to the university like the UNic Online Degree Divisions, offering online programs to students worldwide, or Globaltraining, a professional training division offering courses in Cyprus, Greece and Romania.

If you are a student at the University of Nicosia and you would like to pay your tuition and fees using Bitcoin, contact the Finance Department at the University of Nicosia at +357 22 841518.

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