April 01, 2022 | BUSINESS

Citizens School in Dubai accepts Bitcoin and Ethereum as payment for tuition

Citizens School will accept cryptocurrency as a form of payment when it opens its doors in September 2022.

The school stated that it will take Bitcoin (BTC) and Ethereum (ETH) payments, making it the first education sector in the Middle East to accept digital currencies as payment for tuition.

The UAE has been presenting itself as the next global crypto hub, with several initiatives aimed at attracting blockchain and crypto enterprises and encouraging the use of digital currency in the country. A Dubai school has announced that it will take Bitcoin (BTC) and Ethereum (ETH) as tuition payments, joining the government’s adoption initiatives.

First Education Sector in Middle East to accept cryptocurrency as payment for tuition

According to Arabian Business, Citizens School will accept cryptocurrency as a form of payment when it opens its doors in September 2022. The school stated that it will take Bitcoin (BTC) and Ethereum (ETH) payments, making it the first education sector in the Middle East to accept digital currencies as payment for tuition.

To process payments using bitcoins, the school has teamed with an undisclosed processing firm. Payments in Bitcoin and Ethereum will be instantly converted into United Arab Emirates Dirhams (AED) via the platform.

Citizens School aligns with UAE’s ambition to become a global crypto hub

The move also aligns with the UAE’s ambition to become a worldwide crypto hub. The country hopes to solidify its position as a leader in the fast-expanding crypto business, which has now grown to a $1.9 trillion industry globally.

“Adding the possibility to pay tuition fees with cryptocurrencies goes beyond simply providing another payment option,” Citizens School CEO Hisham Hodroge explained. “Its goal is to pique young people’s interest in emerging trends and breakthrough technologies that will have a significant impact on their lives. It is also a means of increasing interest in blockchain applications – a technology that Citizens School aims to employ in the future across numerous parts of its academic and administrative activities.”

According to Cointelegraph, the school, which is set to start in September, located in the center of Dubai and would take kids ages 3 to 11. The school’s tuition is from 45,000 AED to 65,000 AED a year ($12,250 to $17,700) before VAT, according to its website.

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