The University of Nicosia announced it will be the world's first to accept bitcoins as tuition payment.
The university, which is the largest on the Mediterranean island of Cyprus, is also launching a digital currency course to better understand how bitcoin works.
See also: Bitcoin Goes to Washington: The Case for and Against Digital Currency
"The intention of this initiative is to ease transmission difficulties for certain students and to build our own practical knowledge about this field, not to engage in currency speculation," a university spokesperson told GeekWire.
In addition to the main university, all of its affiliated universities will accept bitcoin payments — for all types of tuition and fees.
“We are acutely aware that digital currency is an inevitable technical development that will lead to significant innovation in online commerce, financial systems, international payments and remittances, and global economic development," Dr. Christos Vlachos, the university's chief financial officer, said in a statement.

Have something to add to this story? Share it in the comments.
Image: George Frey/Getty Images
This article originally published at NowThis News here
NowThis News is video news for the mobile and social generation. It’s news, but fun. Download the free app: nowth.is/downloadforiOS