University in Paraguay will take tuition payments in Bitcoin and Ethereum

The Universidad Americana in Paraguay’s capital Asunción announced it will accept tuition payments in Bitcoin (BTC) and Ethereum (ETH), starting August 1.

The university’s statement to take an “important step towards innovation” comes after congressman Carlitos Antonio Rejala Helman announced that on July 14 he will present the bill for the approval of Bitcoin and cryptocurrencies as means of payment.

Day-to-day economy

The Universidad Americana’s announcement brings Paraguay a step further in the Bitcoin adoption process as it becomes the first University in Latin America to accept payments in cryptocurrencies. 

Desde el 1 de agosto todas tus cuotas podés pagarlas con CRIPTOMONEDAS

Damos un paso importante a la innovación #UniversidadAmericana pic.twitter.com/zEhVQhX8iT

— Universidad Americana (@uamericana) June 22, 2021

First in Latin America, the university joins a small group of higher education institutions that accept payments in crypto, including the University of Nicosia (UNIC), the biggest university in Cyprus, which announced that it was the first school in the world to adopt Bitcoin, back in 2013, prior to becoming the first university in the world to offer a Master of Science in Blockchain & Digital Currency in 2014.

“Let’s go!”, commented Rejala Helman on Twitter as a response to the university’s announcement, while such initiatives bring cryptos into the day-to-day economy of his country. 

The congressman responded with similar approval, saying “July we legislate!”, when Paraguay Entertainment Group, the country’s largest entertainment company, announced it would accept Bitcoin, Ethereum, Shiba Inu, and Chiliz.

This is Paraguay July we legislate! #Bitcoin https://t.co/4e4wH7uDrl

— Carlitos Rejala (@carlitosrejala) June 17, 2021

Mining agenda

Paraguay is home to the Itaipu Hydroelectric Dam (IHD), the world’s second-biggest hydroelectric dam located on the border with Brazil. 

As such, IHD presents a strategic asset for both countries and while it supplies Paraguay with 90% of its electricity, it’s fairly certain it will play a role in Paraguay’s adoption of Bitcoin.

Let’s look forward to a bright and prosperous future utilizing our hydroelectric energy resources by investing in cutting edge technology. #Bitcoin pic.twitter.com/uBN1BTtWLC

— Carlitos Rejala (@carlitosrejala) June 18, 2021

“Hello,” said the congressman, addressing the refugee miners banned from China, inviting them to Paraguay.

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