The Lucian Blaga University of Sibiu (LBUS) said that it plans to accept the cryptocurrency Elrond (EGLD) for admission fee payment as an option for its more than 11,000 students starting in July, according to tokenpost.com.
LBUS is a public university located in the Romanian city of Sibiu in Transylvania and will be the first educational institution in Romania to join the trend as it announced plans to accept payments in virtual currency.
The university said that with the new option in place, students can use the crypto EGLD, which will be converted to Romanian leu by the university as the university collects admissions fees of around $1,000 per year per student.
“Our university has been and will continue to be a supporter of the community and local business, and the decision to develop this partnership with Elrond is part of this strategy,” said LBUS Rector Sorin Radu.
Members of the Elrond team are graduates of the Lucian Blaga University of Sibiu, making it easier for them to partner with the local university. The team also revealed that it plans to carry out other future collaborations with the university.
The price of the crypto has been on the rise in recent weeks and traded at $228.57 per coin based on Coinmarketcap data.