Bitso, the leading cryptocurrency platform in Latin America with more than 5 million users, has partnered with Utel, the leading online university in Latin America with more than 115,000 students and graduates across more than 60 countries. Through their partnership, Bitso will enable Utel’s students in more than 11 countries, including the United States, Chile, Ecuador, Colombia, Mexico, Panama, and Peru, to pay tuition fees with cryptocurrency.
According to an analysis by Tech Jury, the global market for online learning is projected to be worth $325 billion by 2025. Online payments stand to further improve the virtual experience for both students and universities, allowing students to make their payments with only a few clicks, and Utel to receive those payments in a matter of minutes.
As online education continues to grow in popularity, Utel’s collaboration with Bitso provides increased access to learning opportunities on a global scale by broadening options outside of traditional payment methods. Bitso provides a safe, secure, and seamless payment experience for students that wasn’t previously available.
“One of the main barriers that prevent people from adopting cryptocurrencies is accessibility and education is one of the greatest ways to expand access to the masses,” said Ana Berón, Manager of Corporate Affairs and ESG at Bitso. “We’re proud to contribute to increased mass adoption of crypto especially through new use cases such as educational opportunities. Our work with Utel University will essentially allow more people access to educational opportunities by using crypto as a means of payment, contributing to financial inclusion and technological development across Latin America.”
Utel University hosts a wide array of academic offerings, including Bachelor’s, Master’s, Doctorate, and other programs focused on current and future labor market trends. By adding cryptocurrency as a payment option, Utel has also notably become one of the first online universities in Latin America to incorporate cryptocurrencies as an efficient, transparent, and reliable method of payment for its community.
“At Utel, we know the next generation of technology is centered around finance especially as blockchain technology has continued to gain traction and value across the region and we would be remiss not to consider how it could benefit our university. Blockchain can add transparency to our processes and create visibility around the movement of money in exchange for services,” said Rafael Martínez, Director of Institutional Liaison at Utel. “As an institution that functions entirely online, it is vital that we prioritize transparency and leverage emerging technologies wherever possible. By adopting the technology, we help our students and community members become more aware of this new financial tool and its potential benefits.”
To transact with cryptocurrencies, students must sign into Utel’s SIU platform. From there, they can choose cryptocurrencies as a payment option. Through Bitso’s alliance with BitPay, cryptocurrencies can be converted to any other current currency instantly — which will especially benefit students. This is yet another example of how Bitso reaffirms its commitment to promoting the adoption of crypto across the region through the creation of innovative services that are revolutionizing the way companies and people around the world interact with cryptocurrencies.
“At Bitso, we are firmly committed to continuing to develop use cases that make cryptocurrencies a beneficial technology in people’s lives. Through our alliance with Utel, we are encouraging more people to understand the benefits of this new digital economy by allowing them to access educational opportunities through tools that allow users to have a simple and intuitive experience,” said Carlos Lovera, Business Development Manager at Bitso.
About Bitso
Bitso is the leading Latin American crypto-first platform with a community of over 5 million users. The company offers three main products: the Bitso App for new or experienced cryptocurrency users to buy, sell, send, or receive crypto in a simple and intuitive way; Bitso Alpha, a professional-grade crypto trading platform; and Bitso Business, a suite of cross-border products that enable businesses to thrive in a global digital economy. Bitso is one of the few crypto exchanges, and the only one in Latin America, to obtain a Distributed Ledger Technology (DLT) license from the Gibraltar Financial Services Commission (GFSC), a sovereign agency that has developed one of the most advanced frameworks for regulating cryptocurrency trading.
Founded in 2014, with over 600 employees across 35 different countries, Bitso is working to make crypto useful by liberating the world from traditional financial players and redefining money. #MakeCryptoUseful
About Utel
Utel is a 100% online global university that has spent the past decade developing a flexible platform accompanied by practical, useful, and contemporary content. It has more than 70 academic programs, including Bachelor’s degrees, Master’s degrees, Doctorates and Diplomas, recognized worldwide and available to anyone. With more than 115,000 students and graduates around the world, Utel is a leader in online higher education, offering valuable learning to help its community members achieve personal development and expand their professional skill sets to maximize their potential.
For more information, visit: utel.edu.mx