Hong Kong University Business School Plans Bitcoin Tuition Payments

The University of Hong Kong's Business School is preparing to accept Bitcoin and other digital currencies for tuition fees and donations, positioning itself among the first in Asia to adopt cryptocurrency payments in higher education. Dean Professor Cai Hongbin confirmed that all technical preparations have been completed, and while acknowledging the risks associated with cryptocurrency volatility, the faculty is prepared to manage potential losses. This initiative aligns with Hong Kong's broader strategy to become a global virtual asset hub, reinforced by the recent implementation of the Stablecoins Ordinance that regulates stablecoin issuance and activities. The move received support from industry figures such as Binance founder Zhao Changpeng and local lawmaker Johnny Ng, who emphasized the importance of compliance measures like Know Your Customer (KYC) and immediate conversion of crypto payments to local currency to mitigate risks. Despite some skepticism in the broader crypto community about Bitcoin's utility for everyday transactions, HKU's effort highlights a growing institutional embrace of digital currencies within regulated frameworks. The university is actively exploring this payment option as part of its commitment to financial innovation and digital transformation.