Pennsylvania families can now use crypto to save for college
The next contribution to a Pennsylvania child’s college fund may not come from a grandparent’s birthday card. It could come from a cryptocurrency wallet.
Pennsylvania Treasurer Stacy Garrity announced Thursday that the state’s PA 529 College and Career Savings Program and PA ABLE Savings Program will begin accepting contributions through digital gift cards purchased with cryptocurrency - making Pennsylvania the first state in the nation to offer the option through state-administered education and disability savings programs.
“I am incredibly proud that Pennsylvania is the first state in the nation to partner with Gift of College and Bead to offer PA 529 and PA ABLE savers the opportunity to use cryptocurrency to help them reach their financial goals,” Garrity said in a statement.
“By expanding the way people can choose to save, we are making our programs more accessible and more flexible than ever before,” she said. “It’s an honor to lead the way in innovative solutions for Pennsylvania families.”
Treasury partners with Gift of College to offer gift card options that are redeemable by PA 529 and PA ABLE account owners. Through the Gift of College platform, cryptocurrency and digital assets can be used to purchase digital gift cards using Bead - a digital payments network that enables businesses to accept digital assets and digital wallets while seamlessly receiving U.S. dollars.
PA 529 helps families save in a tax-advantaged way for higher education costs, which include four-year college, two-year college, technical schools, apprenticeships, certificates and K-12 education. Assets in PA 529 accounts do not impact eligibility for Pennsylvania state financial aid.
With the help of Bead and Gift of College, parents, grandparents, friends and family can use digital and traditional currency to fund future education- and disability-related expenses for someone in their life. Gift contributions may be deducted from gift givers’ Pennsylvania state income tax returns.
“Making it possible to contribute to a child’s future using digital assets is exactly the kind of innovation that puts Pennsylvania ahead of the rest of the country - and we are proud to be the infrastructure making it happen,” said Jay Sykes, CEO of Bead.
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This story was originally published June 12, 2026 at 11:10 AM.