According to local newspaper Arabian Business, citizens school in Dubai will accept tuition payments in Bitcoin (BTC) or Ether (ETH). Payments in digital assets will be supported through an unnamed processing platform and will be automatically exchanged for The United Arab Emirates( AED) Dirham coins. Dr Adil Alzarooni, founder of Citizens School, commented: "We look forward to enhancing the role of the younger generation in the development of the UAE's digital economy. The more people involved in the digital age, today's children will become entrepreneurs and investors in the future."
Meanwhile, Hisham Hodroge, CEO of citizens school, added: "The ability to pay tuition fees in cryptocurrencies not only brings a new payment method. This also drives interest in the application of blockchain, a technology that citizen schools plan to leverage in many aspects of teaching and governance in the future."
The school is scheduled to open in September 2022. The school was built in the heart of Dubai and is an international school for children aged 3 to 11. On their website, Citizen offers a year's tuition fee of between AED 45,000 and AED 65,000 ($12,250 to $17,700), excluding VAT, lunch, a mandatory iPad for study, field trips, extracurricular activities and travel.
The United Arab Emirates has become a pro-digital asset region in the Middle East with more and more regulations facilitating cryptocurrencies. Both Binance and FTX have recently received their operating licenses in Dubai. Meanwhile, lawmakers in Abu Dhabi are drafting legislation on NFT transactions.
