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Dubai School Will Accept Tuition Fees Payment in Bitcoin and Ethereum.
Following the growing adoption of cryptocurrencies across various parts of the world, a new school in Dubai has disclosed plans to accept the nascent asset class as a mode of payment for tuition fees.
Local news outlet Zawya reports recently that the new educational institution named Citizens School, which is set to commence operations in September 2022, has announced that parents and guardians can pay tuition fees for their wards in Bitcoin (BTC) as well as Ethereum (ETH).
Notably, the move is the first of its kind in the whole of the Middle East that intends to provide parents with the ability to make school payments using digital currencies.
Citizens Schools, which wants to use the initiative to develop flexible payment options for parents, said it would partner with a cryptocurrency payment company that will help convert all bitcoin and Ethereum payments to Dirhams.
Growing Crypto Adoption Prompts Move
Dr. Adil Alzarooni, Founder of Citizens School, said that years back, cryptocurrencies did not gather much popularity as the asset class was only floating among a few enlightened investors.
The school’s founder noted that cryptocurrencies have gone mainstream and are being adopted in different sectors, thus shaping the traditional financial space, adding:
“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.”
More Crypto Exposure to Young People
According to Alzarooni, introducing cryptocurrencies in tuition fee payments will grant young generations the needed exposure to the asset class and improve their role in achieving the UAE’s digital economy vision.
“As more people embrace the era of digitalization, today’s children will become the entrepreneurs and investors of tomorrow,” Alzarooni added.