Students have been allowed to pay for their admission fees in crypto, by a public University in the Romanian city of Sibiu in Transylvania.
For its more than eleven thousand students, the Institution intends to implement crypto payment methods. The school fees is$1,000 for a year for undergraduates and which can be paid using Elrond (EGLD) and which will be changed to Romanian Leu, according to the report from the Lucian Blaga University.
“Our university has been and will continue to be a supporter of the community and local business, and the decision to develop this partnership with Elrond is part of this strategy,” said university Rector Sorin Radu.
Starting as an initial exchange offering from the Binance Launchpad in 2019, Elrond has offices in the Transylvanian town of more than 400,000 people and its team contains many graduates of the local university. The project said it plans to carry out other collaborations with LBUS in the future, including research.
Also, the providers of exchange that supervise the purchase of crypto with fiat currency and vice versa must now be authorized if they operate in Romania, according to a legislation. Know your customers’ requirements and comply with both domestic and foreign anti-money laundering provisions, have been required by regulators in Romania to those handling crypto currencies in the country.
Elrond has recently seen some significant changes, including its mainnet swap last year as the ERD token became EGLD. At the time of publication, the price of EGLD is $231, having risen more than 13% in the last 24 hours.