CUD says it will no longer accept Shiba Inu and all other crypto payments due to technical reasons.
Canadian University Dubai (CUD), a leading tertiary institution in the UAE, has announced that it will no longer accept Shiba Inu (SHIB) payments. Citing technical reasons, CUD said it had discontinued the service until further notice. The Dubai-based tertiary institution also apologized to its community members for the inconvenience.
“… For technical reasons, CUD will not accept cryptocurrency as a payment,” CUD said in a tweet today.
Dear CUD Community,
For technical reasons, CUD will not be accepting cryptocurrency as a method of payment, until further notice.
We apologize for any inconvenience. pic.twitter.com/b9rERYHR7g
— CUDubai (@CUDUAE) February 10, 2023
Launched in 2006, CUD is a leading tertiary institution in the United Arab Emirates that offers education based on the Canadian curriculum. The university has only four faculties: Management, Commercial Arts and Sciences, Architectural and Interior Design, and Engineering Applied Science & Technology.
Notably, the announcement comes a day after CUD announced a partnership with the world’s largest cryptocurrency exchange Binance to utilize the Binance Pay service. Binance informed CUD students that the partnership would allow them to pay their tuition fees using Binance Pay-supported crypto assets, including Shiba Inu.
#Binance helps bring crypto to @CUDUAE, a leading university in Dubai.
Prospective and current students can now pay their fees, including tuition fees, with crypto.
Powered by Binance Pay. pic.twitter.com/bqWuezZVKJ
— Binance (@binance) February 9, 2023
While members of the Shiba Inu community were still celebrating the collaboration that will further bolster the widespread adoption of SHIB, CUD made a follow-up announcement that it had halted the payment service due to technical reasons.
It bears mentioning that the top Dubai-based university did not specify the technical glitch it experienced while integrating the new payment service. The announcement may come as a blow to the crypto community, but SHIB enthusiasts will be consoled by the fact that Shiba Inu payments have gained momentum recently.
Last month, CoinGate inked a partnership deal with global SaaS platform Wix to enable merchants in selected European countries, including Spain, to accept SHIB payments. In addition, Bahrain’s top real estate developer Bin Faqeeh partnered with Binance to enable its customers to pay for real estate properties using Shiba Inu.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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