As the adoption of crypto rises, a Dubai-based school has announced that it will accept cryptocurrency as a mode of payment for its tuition fees – making it the first school in the Middle East to do so.
Parents to Pay Tuition in BTC and ETH
Citizens School – an educational institution conceived, designed, and developed in the UAE, will be opening its doors to students in September 2022.
According to reports, the Citizens Schools is looking to provide parents and wards with more flexible payment options. As a result, it will be accepting payments in two of the world’s leading cryptocurrencies, Bitcoin and Ethereum.
In order to receive payments made in crypto, the school has partnered with an unnamed crypto payments processor to facilitate the conversion of crypto into Dirhams [AED].
Building UAE’s Digital Economy with Crypto
The move from the Citizens School aligns with UAE’s recent acknowledgment and deep dive into the cryptoverse. Speaking on disrupting the educational sector, Dr. Adil Alzarooni, the founder of the school, said,
“By introducing this new payment facility, we look forward to enhancing the role of young generations in achieving the UAE’s digital economy.”
He also adds that embracing the era of digitalization early will give today’s children the platform to “become the entrepreneurs and investors of tomorrow.”
On the Flipside
- The announcement comes as Bitcoin breaches $48,000 – its highest price point so far in 2022. BTC is currently trading at $47,664 as of this writing.
The 24 hour price chart for Bitcoin (BTC). Source: Tradingview
Why You Should Care
Citizens School aims to ignite interest in innovative technologies within the younger generation to help the UAE cement itself as a leader in the global digital economy.