State University in the Romanian city of Sibiu, Transylvania, said it would allow students to pay entrance fees in cryptocurrency.

According to a statement from Lucian Blag University in Sibiu (LBUS) on Wednesday, the foundation plans to implement encrypted payment methods for more than 11,000 students starting in July. It is reported that students can pay an entrance fee – about $ 1,000 a year for students – using Elrond (EGLD), which the university then converts to Romanian leu.

“Our university has been and will continue to support the local community and business, and the decision to develop this partnership with Elrond is part of this strategy,” said University President Surin Radu.

Since the first exchange offer from Binance Launchpad in 2019, Elrond has offices in Transylvania with a population of over 400,000, and the team includes many graduates from local universities. The project stated that further collaboration with LBUS is planned in the future, including research.

According to legislation passed in July, exchange providers that track cryptocurrency purchases in fiat currencies and vice versa should now be allowed if they operate in Romania. Many cryptocurrency users who handle digital assets in the country should use exchanges that include KYC. requirements and comply with anti-fraud regulations. Domestic and international money laundering.

Elrond has seen some significant changes recently, including a major network change last year when the ERD code became the EGLD code. At the time of publication, the EGLD price stood at $ 231 after rising more than 13% in the last 24 hours.

Source: CoinTelegraph