Citizens School in Dubai will accept tuition payments in Bitcoin (BTC) or Ethereum (ETH) (ETH). According to the local news portal Arabian Business, payments made with digital assets are processed through an unnamed processing platform and automatically transformed into UAE dirhams (AED).
The decision comes as Dubai passes a new law governing virtual assets:
Citizens School’s founder, Dr Adil Alzarooni, said: “We are excited to see how youthful generations can help the UAE achieve its digital economy goals. As more people embrace the era of digitalization, today’s children will become the entrepreneurs and investors of tomorrow.”
Parents will be able to pay tuition costs in cryptocurrency at a school in Dubai that will open later this year. Citizens School, a UK curriculum devised and produced by Al Zarooni Emirates Investments, will take Bitcoin and Ether when it opens in September. It claims to be the Middle East’s first school to allow students to utilize cryptocurrency.
Meanwhile, Citizens School CEO Hisham Hodroge added: “Adding the possibility to pay tuition fees with cryptocurrency does more than just provide another payment option. It’s a way to pique people’s interest in blockchain applications, which Citizens School plans to use in numerous facets of its academic and administrative activities in the future.”
The school, which is due to start in September, is in the centre of Dubai and appears to be organized like an international school. It is open to pupils aged 3 to 11 years old. Citizens School’s tuition costs range from 45,000 AED to 65,000 AED ($12,250 to $17,700) a year, before VAT, school lunches, a mandatory iPad for learning, field trips, extracurricular activities, and other transport.
With an expanding number of crypto-friendly policies, the UAE has become a digital asset proponent in the Middle East. Binance and FTX have both acquired their operations licenses in Dubai lately. In the meantime, regulators in Abu Dhabi are circulating draught guidelines allowing nonfungible token trading.
