Dubai Leading University Stops Accepting Shiba Inu Payments One Day After Adoption

The Canadian University Dubai (CUD), a renowned higher education establishment in the United Arab Emirates, has made a formal announcement regarding its stance on cryptocurrency payments. In light of technical difficulties, CUD will no longer be accepting Shiba Inu (SHIB) or any other form of digital currency as a means of payment.

The university issued a statement expressing regret for the inconvenience caused to its students, staff and other stakeholders.

“… 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

The Canadian University Dubai (CUD), established in 2006, has made a name for itself as a premier tertiary institution in the United Arab Emirates, offering a world-class education based on the Canadian curriculum. With four faculties in Management, Commercial Arts and Sciences, Architectural and Interior Design, and Engineering Applied Science & Technology, CUD has consistently attracted students from around the world.

In a recent development, the university announced a strategic partnership with Binance, the world’s largest cryptocurrency exchange. This collaboration, announced just yesterday, will enable CUD students to pay their tuition fees using Binance Pay, supported by various cryptocurrencies, including Shiba Inu. This move was aimed at offering students a seamless, secure and efficient payment experience.

#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

The Shiba Inu (SHIB) community was in high spirits following the recent announcement of a collaboration aimed at promoting the wider adoption of the digital currency. However, those celebrations were short-lived, as the Dubai-based university, CUD, has since announced the suspension of its payment service integration with SHIB due to technical issues.

Despite the inconvenience caused by this announcement, the specifics of the technical glitch remain undisclosed by the university. This development may be disappointing to the crypto community, but it is important to note that Shiba Inu payments have seen a growing momentum in recent times.

In fact, just last month, CoinGate announced a partnership with the global SaaS platform, Wix, which will allow merchants in select European countries, including Spain, to accept SHIB payments. Additionally, Bahrain’s leading real estate developer, Bin Faqeeh, has also partnered with Binance to allow its customers to purchase properties using Shiba Inu. These developments are a testament to the growing acceptance of SHIB as a valid form of payment.