Canadian University Dubai’s Crypto Partnership with Binance Pay Stalls Due to Technical Issues
The Canadian University Dubai (CUD), a private university located in Dubai, recently announced its partnership with Binance Pay to accept course fees in cryptocurrencies.
The move would have allowed domestic and international students to pay their tuition fees using various cryptocurrencies.
Binance Pay, a payment gateway service launched by Binance, supports over 200 cryptocurrencies, including Bitcoin, Dogecoin, and Ethereum, and charges zero fees per transaction.
However, a technical roadblock only a day after the announcement put a damper on the excitement for the short-lived initiative.
Despite this setback, Binance hosted a cryptocurrency workshop and information session for CUD students where they were taught about blockchain and crypto fundamentals, Web3, and the metaverse.
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The university has not yet commented on the situation. Still, the recent release of crypto regulations for virtual asset service providers (VASPs) in Dubai by the Virtual Asset Regulatory Authority may have played a role in the setback.
Irina Heaver, a crypto and blockchain lawyer based in the United Arab Emirates, stated that the regulations are “long-awaited and most welcomed.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
