According to Arabian Business, Citizens School in Dubai will accept tuition payments in Bitcoin (BTC), or Ethereum (ETH). Unnamed platforms facilitate digital asset payments and automatically convert them into United Arab Emirates Dirhams. Dr Adil Alzarooni is the founder of Citizens School.
“We are looking forward to increasing the role of the young generation in the UAE’s digital economy. Digitalization will make it easier for today’s kids to become entrepreneurs and investors.
Hisham Hodroge (CEO of Citizens School) said that “Introducing the ability for tuition fees to be paid through cryptocurrency goes beyond simply providing another payment option. This is a way to increase interest in blockchain applications — a technology Citizens School plans to use in its administrative and academic operations.
It is expected to open in September and is located in the heart of Dubai. Students from 3-11 years old can apply. Citizens School lists the tuition cost at 45,000 AED to 65,000AED per year ($12.250 to $17.700). This includes school lunches, VAT, and a mandatory iPad to learn, field trips, and extracurricular activities.
With an increasing number crypto-friendly regulations, the UAE has emerged as a proponent of digital assets in the Middle East. Binance and FTX received their Dubai operational licenses. In Abu Dhabi, regulators are currently preparing draft recommendations regarding the trading of non-fungible tokens.