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The University of Hong Kong’s business school is preparing to accept Bitcoin in tuition and donations. The faculty dean confirmed all technical details have been sorted. The move comes shortly after Hong Kong’s new Stablecoins Ordinance took effect. The University of Hong Kong’s (HKU) business school is preparing to accept Bitcoin and other digital currencies for tuition fees and donations. Professor Cai Hongbin, dean of the business and economics faculty, confirmed that “all the technical details have been sorted out.”  This commentary signals that the Bitcoin move could be implemented soon. The initiative highlights Hong Kong’s ongoing efforts to position itself as a global hub for digital assets following the introduction of its Stablecoins Ordinance earlier this month. HKU on Risk: We Are Prepared to Manage Potential Losses Notably, Professor Cai acknowledged that accepting volatile assets such as Bitcoin carries risk but stressed that the faculty is prepared to manage potential losses.  He described the move as a trial that would showcase the school’s willingness to embrace financial innovation and digital transformation. The school later confirmed that it is “actively exploring” the adoption of digital currencies, highlighting its commitment to research, regulation, and practical use cases of cryptocurrencies. Binance’s CZ and Lawmakers Back the Move The announcement came during the CryptoFi Forum at HKU, attended by Binance founder Zhao Changpeng, who argued that Hong Kong had the right conditions to compete with the U.S. and the UAE as a virtual asset hub if the government acts quickly.  Related: Binance’s CZ Says Tokenization to Drive Crypto Growth, Calls on Hong Kong to Act Fast Local lawmaker Johnny Ng Kit-chong also backed the university’s initiative. He acknowledged the volatility risk but pointed to a simple solution: immediate conversion of crypto payments into local currency. He also stressed that Know Your Customer (KYC)…

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Filed under: News - @ August 30, 2025 2:28 pm