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The edtech startup joins a bunch of other big-league companies that have started to accept crypto payments for services. BrightChamps will accept payment of fees in Bitcoin, Tether, and Ether from users in India, Canada, the US, UAE, Thailand, Malaysia, Nigeria, and other locations where the company is operational. The edtech firm is currently operational in over 30+ countries. The company recently acquired an emerging financial literacy platform called Education10X, and is further looking to expand its services.
BrightChamps has teamed up with Singapore-based payment gateway TripleA, who will offer competitive exchange rates and secure transactions. Ravi Bhushan, Founder and CEO of BrightChamps, believes that Cryptocurrency is the future of payments. He stated the following in a statement to the media:
"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."
BrightChamps has seen plenty of growth since its launch in 2020, and the boom was mainly due to the Covid-19 pandemic when online education became the norm. The company is now valued at over $500 million. By accepting payments in crypto, BrightChamps joins progressive players such as Tesla, AMC Theatres, and a few others who've also enabled payments via cryptocurrencies.