March 29, 2022
By Priyanka Shetty
Citizens School in the UAE has announced that it will accept cryptocurrency as a mode of payment, making it the first of its kind in the Middle East to let parents pay tuition fees using digital currency.
Here’s what we know:
The school will be accepting payments in Bitcoin and Ethereum as it opens its doors by September 2022. This is in addition to traditional forms of payments and interest-free monthly payment options that the school has to offer.
The founder of Citizens School, Dr. Adil Alzarooni, speaking about the acceptance of crypto as a payment 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.”
Payments using cryptocurrencies will be accepted through a tie-up with a digital currency platform that processes payments and automatically converts them to UAE dirhams, the school said. 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.
School fees range from Dh36,000 ($9,802) for FS1 up to Dh52,000 for Year 6. A monthly payment plan for 10 months is also available.
About the author
Based in Bengaluru, Priyanka Shetty is a freelance writer for Blockchain Asset Review.