Paraguay University to soon accept bitcoin and ethereum as tuition payment

Universidad Americana, a learning institution located in Paraguay’s capital, Asuncion, announced that starting August 1, it will start accepting bitcoin and ethereum as tuition fee payments.

The university’s announcement, considered an important step towards innovation, came only a few days after Congressman Carlitos Antonio Rejala Helman said on July 14 that he will present the bill for approval of bitcoin and other cryptocurrencies as a payment option in the country.

With this development, Universidad Americana becomes the first Latin American university to accept crypto payments, bringing Paraguay a step further in its bid for bitcoin adoption.

Joining a small but significant movement

The Paraguay University now joins a small group of higher education institutions that have started accepting payments made through cryptocurrencies.

The group includes the biggest university in Cyprus, the University of Nicosia (UNIC). Back in 2013, it announced it was the first school in the world to adopt the leading cryptocurrency by market capitalization.

The UNIC, in 2014, also became the first university to offer a Master’s degree in Blockchain and Digital Currency.

Meanwhile, on his Twitter account, Congressman Rejala Helman replied “Let’s go!” to the announcement of Universidad Americano, which he said brings cryptos into the day-to-day economy of Paraguay.

Paraguay’s crypto mining agenda

The South American country is home to the Itaipu Hydroelectric Dam (IHD), considered to be the second-largest hydroelectric dam located on its border with Brazil.

The facility proves to be a strategic asset for both Paraguay and Brazil, supplying the former with 90% of its electricity. The dam is also expected to play a vital role in Paraguay’s attempt to adopt bitcoin.

Congressman Rejala has already said “Hello,” addressing the refugee miners that were banned from China, inviting them to their nation teeming with hydroelectricity.

 

Image courtesy of Cointelegraph News/YouTube

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