A Goa based global ed-tech firm has announced that they would henceforth accept payments in the form of cryptocurrencies as well.
BrightCHAMPS, a platform that provides next-gen life skills to children, announced that they would henceforth accept Bitcoin, Tether, and Ethereum as modes of fee payment across all the 30 countries it is operational in, including the US, Canada, UAE, Nigeria, Malaysia and Thailand.
This comes at a time when the Indian government announced a 30 % income tax on income from digital virtual assets in the Union Budget 2022-23, drawing heavy criticism from a section of investors.
To enable this, BrightCHAMPS has associated with leading global crypto payment gateway, TripleA, to ensure stable transactions for new and existing customers. BrightCHAMPS said that with this move, subscribers would get the most competitive exchange rates within the top 7 crypto exchanges in the world.
Founded in 2017 in Singapore, TripleA is compliant with Singapore’s central bank, Monetary Authority of Singapore (MAS), is a member of the Singapore Fintech Association, and follows the highest international protocols for Anti-Money-Laundering (AML) and Know-Your-Customer (KYC), according to an official note.
The announcement comes after their acquisition of Education10x, the world’s first financial literacy education platform for children from 8 to 16 years of age.
Ravi Bhushan, Founder and CEO, BrightCHAMPS, said, “Cryptocurrency is the future of payments, and we, at BrightCHAMPS, are committed to ensuring that our customers are always empowered to embrace change. It is our belief that lack of financial literacy is one of the costliest things that can happen to anyone in the world. The recent addition of financial literacy into our student offerings through Education10x was informed by this belief.
“So, the decision to allow cryptocurrencies as payment was an obvious and imminent one for us. We hope that by enabling crypto payments, we will be able to make our offerings accessible to a wider audience around the world in a seamless and more cost-effective manner with the help of the instantaneous transactions and lower transaction fees that crypto payments are known for.”
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