Payment Now Possible with Bitcoin, Tether, and USD Coin
The Yonsei University Alumni Association announced on October 14 that it has become the first university alumni association in South Korea to introduce a cryptocurrency membership fee payment system.
With this new system, alumni can pay their regular and special membership fees using Bitcoin (BTC), Tether (USDT), and USD Coin (USDC), in addition to existing methods such as credit card, giro, direct deposit, and wire transfer. The payment reference price is based on the previous day's closing price on Upbit (UTC standard). Alumni who pay their lifetime membership fee with cryptocurrency will receive a 10% discount.
The association expects this system to increase participation from alumni worldwide. In particular, overseas alumni will be able to pay their fees much more conveniently than through traditional foreign remittance methods.
Fintech company Waveridge will be responsible for digital asset custody and accounting management. Waveridge will convert the received cryptocurrency into cash and handle overall management tasks, including custody and accounting advisory services.
An association representative stated, "We have introduced the cryptocurrency payment method in response to changes in the digital financial environment," adding, "This will allow both domestic and international alumni to pay their regular and special membership fees more conveniently."
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