Dubais University Cud wants to accept crypto payments

Dubais University Cud wants to accept crypto payments

The Canadian University of Dubai (Cud) has teamed up with Binance to enable students to pay their fees in digital currencies.

With the recent collaboration, the exchange immersed in the local ecosystem. It received a cryptocurrency license from Dubai's supervisory authorities in September last year.

Billing of the semesters in crypto

The world's leading crypto platform announced the partnership on its Twitter account and said that current and future students of the CUD can pay their training costs in digital assets instead of Fiat currencies.

@Cuduae A leading university in Dubai.

interested people and students can now pay their fees, including the tuition fees, with crypto.

supported by BinancePay. pic.twitter.com/bqwuezzvkj

-Binance (@binance) 9. February 2023

The payment technology Binance Pay supports over 70 cryptocurrencies, including Bitcoin (BTC), Ether (Eth), Dogecoin (Doge), Litecoin (LTC), Polygon (Matic), Ripple (XRP) and many others. Stable coins such as USDT and USDC are also on the list.

The Canadian University of Dubai (better known as CUD) founded in 2006 offers an education system based on the curriculum of the North American country. It has about 1,200 students and consists of four faculties: architecture and interior design; Communication skills and sciences; Engineering of applied science and technology; and management.

Binance increased his presence in Dubai in September last year, preserver-spaces = "true"> a minimal vible product (MVP) license regulatory Authority (Vara). The extension of the previously secured approval made it possible to offer institutional and qualified private investors in the region.

The rival of Binance-Crypto.com-also received the official approval in Dubai, while the bankruptcy FTX was allowed to build regional headquarters.

Dubai's data protection ban Coins

Despite their pro-crypto posture and ambition to establish Dubai as the "International Center for Virtual Assets", the domestic supervisory authority recently banned all operations with data protection coins such as Monero (XMR) and ZCash (ZEC).

The Vara also determines license requirements that have to meet digital-asset organizations. Some of the principles include procedures to combat money laundering, the prevention of insider trade, marketing protocols and monitoring whether cryptocurrencies are used for illegal activities.

"Any disguise of money flows is a challenge for the uncoveration of illegal activities, so it is not surprising that the supervisory authorities react strongly to this type of investment class and mechanisms," said Angela Ang-Senior Policy Advisor at TRM Labs.

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