George Frey / Getty Images A pile of Bitcoins are shown here after Software engineer Mike Caldwell minted them in his shop on April 26, 2013 in Sandy, Utah.

Bitcoin has taken yet another step into the realm of real life viability, as the University of Nicosia (UNic) in Cyprus decided to accept the digital currency for payment of tuition and other fees, making it the first in the world to do so.

“We are acutely aware that digital currency is an inevitable technical development that will lead to significant innovation,” said Dr. Christos Vlachos, member of the Council of UNic and the University’s chief financial officer, in a statement on Thursday.

One of the largest accredited English language universities in the Euro-Mediterranean region, UNic will also offer a Master’s of Science Degree in Digital Currency, available online and on-campus starting in spring 2014.