Dubai school to accept tuition payments in Bitcoin and Ethereum

In the future, Citizens School plans to incorporate blockchain technology into numerous parts of its academic and administrative activities, according to the school.

Dubai school to accept crypto
Dubai City | Image: Optimisus

Citizens School in Dubai, according to local news portal Arabian Business, will accept tuition payments in Bitcoin (BTC) or Ethereum (ETH).

Payments made with digital assets are processed through an unnamed processing platform and automatically transformed into UAE dirhams (AED). Citizens School founder, Dr. Adil Alzarooni, said,

"We look forward to enhancing the role of young generations in achieving the UAE's digital economy. As more people embrace the era of digitalization, today's children will become the entrepreneurs and investors of tomorrow."

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 center of Dubai and appears to be organised 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 a year ($12,250 to $17,700) before VAT, school lunches, a required iPad for learning, field trips, extracurricular activities, and transportation, according to its website.

With an expanding number of crypto-friendly policies, the UAE has become a digital asset proponent in the Middle East. Binance and FTX both acquired their operations licenses in Dubai lately.

In the meantime, regulators in Abu Dhabi are circulating draft guidelines allowing nonfungible token trading.