European School of Management and Technology now accepting bitcoin

Now Accepting | December 14, 2016 By:

European School of Management and Technology (ESMT) announced that it is the first German institute of higher education to accept bitcoin as a general means of payment for degree tuition and executive education programs.

ESMT Berlin is a leading business school in Germany that offers MBA accreditation, PhDs, and master’s degrees. The private university, located in Berlin, has been well established for 14 years. Now the school will be accepting bitcoin for all of its education programs. The university detailed that digital currencies offer money transfers without the need for third-party intermediaries.

“Integrating bitcoin as a routine method of payment is a logical consequence of digitalization. Especially for international transactions from countries without a well-functioning banking system, the digital currency offers great advantages through the immediate, practically free-of-charge transfer. This makes bitcoins attractive to us as a means of accepted payment,” said Georg Garlichs, CFO of ESMT.

ESMT is only the latest among a group of institutions around the world to accept the cryptocurrency as a mode of payment.

Other universities across the globe including the University of Cumbria in U.K., King’s College in New York, Brazilian university Faculty of Informatics and Management Paulista (FIAP), among others, have been accepting bitcoin payments for tuition and other expenses.