Dubai School Becomes 1st to Accept Crypto for Tuition in Middle East

Dubai announced the first school, Citizens school, to accept tuition fee payments in crypto. The school will be accepting payments in Bitcoin and Ethereum as it opens its doors by September 2022.

The school promises to offer flexible payment options in addition to traditional forms of payments and interest-free monthly payment options that Citizens School will offer. As explained, payments in crypto will be accepted in a tie-up with a digital currency platform that processes cryptocurrency payments and automatically converts them to Emirati dirhams (AED).

This move to crypto payments follows the Dubai government’s recent adoption of its first law regulating virtual assets, as it promises a safe and advanced legal framework for investors.

The founder of Citizens School, Dr. Adil Alzarooni, said:

A while ago, cryptocurrency was only a floating term among well-versed investors. However, today cryptocurrency is becoming much more mainstream, reshaping the traditional financial system.“Similarly, Citizens is disrupting the education sector by re-imagining every element of the learning experience – be it the way our children learn, how we equip our teachers to be mentors, what our learners choose to wear, or the ways that parents can pay for tuition.

He also showed support to the next generation and the digital economy of the UAE, saying “By introducing this new payment facility, 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.”

Following up with the nation’s goal of becoming a global hub for cryptocurrency as market capitalization hits $1.9 trillion, Citizens School steps up to help cement the UAE as a leader within the global digital economy. The school also seeks to become an incubator for entrepreneurial ideas and children-led innovation.