The University of Nicosia said on Thursday it became the first accredited university in the world to accept the digital currency Bitcoin for tuition and other fees.
"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.
Digital currency will create more efficient services and will serve as a mechanism for spreading financial services to under-banked regions of the world," said Christos Vlachos, member of the Council of the University of Nicosia, and CFO.
Bitcoin will be accepted throughout the whole University of Nicosia system, including affiliated institutions.
The University also announced the launch of a Master's degree in digital currency, which, according to Vlachos "is designed to help financial services and business professionals, entrepreneurs, government officials and public administrators better understand the technical underpinnings of digital currency, how it will likely interact with existing monetary and financial systems, and what opportunities exist for innovation in digital currency systems".
The University of Nicosia is the largest private university in Cyprus.
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Original headline: Uni of Nicosia first to accept Bitcoin
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