New Delhi, NFAPost: Amid wide uncertainties and controversy on banning crypto in India, edutech startup Digital Gurukul has started allowing its customers to use some cryptocurrencies for payment of fees from June 2021, becoming Asia’s first Edtech company that has embraced digital tokens.
“We are preparing right now for the future of crypto and payments, announcing that this year Digital Gurukul will start supporting select cryptocurrencies for payment of fees,” said Dr. Raj Padhiyar, Founder & CEO – Digital Gurukul.
The decision of Gurukul comes close on the heels of Tesla revealed a $1.5 billion bitcoin investment earlier this week and said it would soon begin accepting the token as payment for its products.
Digital Gurukul already allows its customers to pay the fees with Easy EMI options, interest fees loan, study now & pay later & reward points in association with Cashfree & Kunal Shah’s CRED. But now, the company aims to support cryptocurrency by allowing many more students to avail of this service.
Digital Gurukul said it will not support all cryptocurrencies for payment of fees as of now, as many of them need to tighten their compliance measures. “We will be very thoughtful about which assets we support based on consumer protection and compliance,” the company said.
Bitcoin has drawn enthusiasts for its scarcity and security, but the volatile digital currency still is not widely used to pay for goods and services. It’s mostly been a store of value, like gold, with some limited merchants accepting bitcoin for payment. But it’s the rarest instance that any Edtech company around Asia has integrated crypto payment in their payment portfolio.
Founded in 2014 by Dr. Raj Padhiyar, bootstrapped edutech startup Gurukul has been a torchbearer in the digital learning space and till now trained close to over 22850 students and working professionals across Asia. It offers diploma and certificate programmes in new-age digital skills – Digital Marketing, UI/UX Design, Full-Stack development, Product Management, Cybersecurity and more to students with job guarantee & corporates to upskill their workforce.
They have recently launched “Digital Gurukul Kids” to offer digital and life skills training from the age of 5-18. It has 6 Franchise centres across India with a target of 50 centres by 2022. More than 35+ institutions associated with Digital Gurukul train their students with Digital skills. Some of the institutions include IIM- Indore, NMIMS,