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Canadian University Dubai backtracks on accepting crypto via Binance Pay
Before hitting a technical roadblock, CUD was seemingly interested in collecting tuition and course fees in cryptocurrencies from both domestic and international students.
Not even 24 hours after the Canadian University Dubai (CUD) announced its partnership with Binance Pay to accept course fees in cryptocurrencies, a technical roadblock watered down the excitement behind the short-lived initiative.
CUD, a private university in Dubai, was seemingly interested in allowing domestic and international students to pay their tuition and course fees in cryptocurrencies. This initiative would have allowed students from varied backgrounds easy access to the Canadian curriculum in Dubai.
Binance Pay, a payment gateway service launched by crypto exchange Binance, allows businesses to integrate support for cryptocurrency payments. According to the university’s initial announcement, the Binance partnership allowed the institution to “have adapted to the transforming digital payment space.”
Binance Pay supports over 200 cryptocurrencies, including Bitcoin, Dogecoin and Ether and charges zero fees per transaction. On Feb. 7, Binance hosted a cryptocurrency workshop and information session for CUD where students were taught about blockchain and crypto fundamentals, Web3 and the metaverse.