Swiss Public University Begins Accepting Bitcoin

Switzerland's Lucerne University of Applied Sciences and Arts has announced that it will accept bitcoin as payment for student expenses.

AccessTimeIconOct 6, 2017 at 10:00 a.m. UTC
Updated Dec 12, 2022 at 12:43 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Switzerland's Lucerne University of Applied Sciences and Arts is now accepting bitcoin.

The public institution is taking the cryptocurrency as payment for student-related bills through a partnership with Bitcoin Suisse AG. As might be expected, the university itself won't handle the bitcoin – rather, the brokerage firm will exchange incoming payments into Swiss francs on a weekly basis, according to an  announcementhttps://www.hslu.ch/en/lucerne-university-of-applied-sciences-and-arts/about-us/medien/medienmitteilungen/2017/10/03/bitcoin/.

"Bitcoin Suisse AG will bear the risk of any exchange rate losses and currency fluctuations," the university notes.

Immediate adoption by most students is not expected, however. Only those who are savvy about finance or are interested in pursuing an education in this area are expected to choose the payment method, the release indicates.

The move makes it the latest publicly funded higher education institute to embrace bitcoin as an alternative payment, following the King's College New York, The University of Nicosia in Cyprus, and The University of Cumbria in the U.K.

Yet the move is perhaps an unsurprising one, given the interest the university has shown toward the tech to date.

Researchers at Lucerne are involved in a number of blockchain initiatives, including an ethereum-based identity solution being spearheaded by the City of Zug. The university is also a member of the non-profit Crypto Valley Association, a working group dedicated to companies and startups in Switzerland that are using the tech.

Lucerne image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.