According to local news outlet 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 (UAE) dirhams. Dr. Adil Alzarooni, founder of the Citizens School, commented:
“We look forward to enhancing the role of the young generation in achieving the UAE’s digital economy. As more people embrace the age of digitalization, the children of today will become the entrepreneurs and investors of tomorrow.”
Meanwhile, Hisham Hodroge, CEO of Citizens School, added: “Introducing the ability to pay tuition fees via cryptocurrency goes beyond providing another payment option. It is a means of generating greater interest in blockchain applications, a technology that Citizens School intends to deploy, over time, in various aspects of its academic and administrative operations.”
The school, which will open its doors in September this year, is located in the heart of Dubai and appears to be structured as an international school. It is available for students from 3 to 11 years old. On its website, Citizens School lists the cost of tuition between AED 45,000 and AED 65,000 per year (USD 12,250 to USD 17,700) before VAT, school lunches, a mandatory iPad for learning, field trips, extracurricular activities and transportation.
The United Arab Emirates has become a champion of digital assets in the Middle East with an increasing number of crypto-friendly regulations.. Both Binance and FTX recently received their operating licenses in Dubai. Meanwhile, regulators in Abu Dhabi are implementing draft recommendations for trading non-fungible tokens.
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