Edtech firm BrightChamps to start accepting crypto payments

Goa-based BrightChamps will now accept cryptocurrencies such as 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, Thailand, etc. 

This makes BrightChamps one of the first Indian companies that has started to accept payments in cryptocurrencies. The announcement comes on the heels of the newly imposed 30 percent tax on cryptocurrencies in the recent Union Budget. However, the regulatory uncertainty still persists in the county as the industry awaits the Crypto Bill. 

The edtech firm, which offers skill education to kids aged 6-16 years, has tied up with leading global crypto payment gateway, TripleA, to ensure secure and stable transactions for new and existing customers. 

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. 

Ravi Bhushan, Founder & 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.”

The crypto-as-payment functionality is already live on the BrightChamps platform across all geographies after thorough testing and security checks, said the company.

Last year, the company raised $63 million in total funding at a valuation of $500 million. The company includes investors such as Premji Invest, Flipkart cofounder Binny Bansal-backed 021 Capital and Singapore-based venture fund Beenext among others.