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According to Arabian Business, Citizens School, located in Dubai, will accept tuition payments in Bitcoin or Ethereum. Payments using digital assets are automatically converted into UAE Dirhams (AED).
“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,” commented Dr. Adil Alzarooni, the founder of Citizens School.
Hisham Hodroge, CEO of Citizens School, added:
“Introducing the ability to pay tuition fees through cryptocurrencies goes beyond just providing another payment option. It is a means to drive further interest in the applications of blockchain — a technology that Citizens School intends to deploy, in time, across several aspects of its academic and administrative operations.”
The Citizens schooling experience centers around future-proofing students by equipping them with a rich, connected bank of knowledge and skills relevant for the 21st century, through its custom-built curriculum – Citizens Tapestry.
The school, set to open in September 2022, is located at the heart of Dubai and appears to be structured as an international school. It is available to students ages 3 to 11. On its website, Citizens School lists its tuition cost as AED 45,000 to AED 65,000 per year ($12,250 to $17,700) before VAT, school lunches, a mandatory iPad for learning, field trips, extracurricular activities and transport.
Outside the MENA region, Pennsylvania State University announced that it would begin accepting Bitcoin payments. The university, which has educated the likes of Elon Musk, revealed that students of the course titled Economics of Blockchain and Digital Assets were able to pay for the six-week course using BTC. Others include the California Intercontinental University and King’s College, both of which accept cryptocurrency payments for study in their schools.
The UAE has become a crypto asset proponent in the Middle East with an increasing number of crypto-friendly regulations. Both Binance and FTX have recently received their operational licenses in Dubai. Meanwhile, regulators in Abu Dhabi are rolling out draft recommendations for the trading of NFTs.
