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University of Hong Kong business school looking at taking bitcoin for fee payments

Professor Cai Hongbin, dean of the business and economics faculty, says ‘all the technical details have been sorted out’

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Hong Kong has been slow in using digital currencies for everyday transactions, a lawmaker says. Photo: Getty Images
Emily Hung
The business school of Hong Kong’s oldest university is exploring the use of digital currencies for tuition payments and donations.
The move by the business school of the University of Hong Kong (HKU) comes as the city seeks to balance its aspirations as a virtual asset hub with the need to minimise financial risks, with the Stablecoins Ordinance having come into effect on August 1.

Professor Cai Hongbin, dean of the business and economics faculty at HKU, called for support for the initiative at a forum earlier this week.

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“All the technical details have been sorted out. We will take bitcoin and digital currencies for tuition fees and donations in the future,” Cai said at the CryptoFi Forum on Wednesday, according to an online video verified by the school.

“If we lose money, we will be losing the money of the faculty … It’s ok, we can take care of it, but at least let us give it a try.”

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The forum at HKU was attended by Zhao Changpeng, founder and largest shareholder of cryptocurrency exchange Binance, who earlier told the Post that Hong Kong had the conditions to become a major hub for virtual assets, rivalling the US and the United Arab Emirates, but the government must act swiftly.

Professor Cai Hongbin says the business school has to give the initiative a try. Photo: May Tse
Professor Cai Hongbin says the business school has to give the initiative a try. Photo: May Tse
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