The University of Hong Kong (HKU) Business School is preparing to accept Bitcoin and other digital currencies for tuition and donations. Professor Cai Hongbin, dean of the Faculty of Business and Economics, confirmed that “all the technical details are organized.”
This commentary shows that Bitcoin transfers will soon be implemented. The initiative highlights Hong Kong's continued efforts to establish itself as a global hub for digital assets after the introduction of the Stablecoins ordinance earlier this month.
HKU on risk: Ready to manage potential losses
In particular, Professor CAI acknowledged that accepting unstable assets such as Bitcoin is risky, but emphasized that faculty are ready to manage potential losses.
He described the move as an exam showing schools' willingness to embrace financial innovation and digital transformation. The school later confirmed it was “actively investigating” the adoption of digital currency, highlighting its commitment to cryptocurrency research, regulation and practical use cases.
Binance's CZ and lawmakers support this move
The announcement was attended by Binance founder Zhao Changpeng at the Cryptofi forum at HKU. He argued that Hong Kong has the right conditions to compete with the US and the UAE as a hub for virtual assets if the government acts promptly.
Related: Binance's CZ says tokenization to drive crypto growth calls Hong Kong to act quickly
Local MP Johnny NG Kit Chong also supported the university's initiative. He acknowledged the risk of volatility, but pointed out a simple solution: to instantly convert crypto payments to local currency. He also emphasized that you know that your customer (KYC) compliance is essential to ensure that all transactions are transparent and legal.
Pushing to become a crypto hub for Hong Kong
The push for the integration of Bitcoin into higher education payments reflects the broader regulations and market conditions in Hong Kong. Currently, 11 virtual asset trading platforms are licensed by the Securities and Futures Commission (SFC).
At the same time, the Stablecoins ordinance, which came into effect on August 1, provides a framework to regulate one of the most widely used cryptographic equipment for everyday transactions.
Kit-chong concluded that adopting digital currency in everyday use is a “inevitable trend” and points to the global momentum of more diverse and convenient payment systems.
Disclaimer: The information contained in this article is for information and educational purposes only. This article does not constitute any kind of financial advice or advice. Coin Edition is not liable for any losses that arise as a result of your use of the content, products or services mentioned. We encourage readers to take caution before taking any actions related to the company.
