A school in Dubai has said it will be the first school in the Middle East to let parents pay tuition fees using cryptocurrency.
Citizens School, which is set to open doors in September 2022, said it will accept payments from the two major cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), in addition to traditional forms of payments and interest-free monthly payment options that Citizens School will offer.
Payments using cryptocurrencies are accepted through a tie up with a digital currency platform that processes cryptocurrency payments and automatically converts them to Dirhams (AED), the school said in a statement.
The move towards cryptocurrency payment options follows the Dubai Government’s recent adoption of its first law regulating virtual assets, ensuring a safe and advanced legal framework for investors.
Dr. Adil Alzarooni, Founder of Citizens 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. As more people embrace the era of digitalization, today’s children will become the entrepreneurs and investors of tomorrow.”
Citizens has been designed and developed by Al Zarooni Emirates Investments. It claims that influenced by some of the world’s leading cognitive scientists and researchers on education, motivation and mindsets, the school’s custom-built curriculum is tailored for each child’s unique strengths and approach to learning, with the UK National Curriculum as its framework.
The 43,000-square-meter school campus has capacity for 2,600 children between the ages of three and 18 and features almost 3,000 square meters of open playing space.