Dubai school to welcome Bitcoin and Ethereum tuition payments

According to to local media Arabian Business, Citizens School, located in Dubai, will accept tuition payments denominated in Bitcoin ( B...



According to to local media Arabian Business, Citizens School, located in Dubai, will accept tuition payments denominated in Bitcoin (BTC) or Ethereum (ETH). Payments using digital assets are facilitated through an unnamed processing platform and are automatically converted into United Arab Emirates Dirhams (AED). Dr. Adil Alzarooni, founder of Citizens school, commented:

“We look forward to enhancing the role of younger generations in realizing the UAE’s digital economy. As more people enter the era of digitalization, today’s children will become the entrepreneurs and investors of tomorrow.”

Meanwhile, Hisham Hodroge, CEO of Citizens School, added: “Introducing the ability to pay tuition through cryptocurrencies goes beyond simply providing another payment option. This is a way to generate more interest in blockchain applications – a technology that Citizens School intends to deploy, eventually, across several aspects of its academic and administrative operations.”

The school, which is due to open in September this year, is located in the heart of Dubai and appears to be structured as an international school. It is accessible to students from 3 to 11 years old. On its website, Citizens School lists its tuition fees range from AED 45,000 to AED 65,000 per year ($12,250 to $17,700) before VAT, school meals, a compulsory iPad for learning, field trips, extracurricular activities and transport.

The UAE has become a digital asset developer in the Middle East with a growing number of crypto-friendly regulations. Binance and FTX recently received their operational licenses to Dubai. Meanwhile, Abu Dhabi regulators are rolling out draft recommendations for trading non-fungible tokens.