Citizens School said that it also intends to integrate blockchain technology into various aspects of its academic and administrative operations in the future.
According to local news outlet Arabian Business, Citizens School, located in Dubai, will accept tuition payments denominated in Bitcoin (BTC) or Ethereum (ETH). Payments using digital assets are facilitated through an unnamed processing platform and are automatically converted into United Arab Emirates Dirhams (AED). Dr. Adil Alzarooni, founder of Escola Cidadãos, commented:
"We look forward to enhancing the role of the young generation in conquering the UAE's digital economy. As more people embrace the age of digitalization, the children of today will become the entrepreneurs and investors of tomorrow."
Meanwhile, Hisham Hodroge, CEO of Citizens School, added: “Introducing the ability to pay tuition fees via cryptocurrency goes beyond providing another payment option. unfold, over time, in various aspects of its academic and administrative operations.
The school, which is scheduled to open in September this year, is located in the heart of Dubai and appears to be structured as an international school. It is available for students from 3 to 11 years old. On its website, Citizens School lists the cost of tuition as AED 45,000 to AED 65,000 per year ($12,250 to $17,700) before VAT, school lunches, a mandatory iPad for learning, field trips, extracurricular activities, and transportation.
The United Arab Emirates has become a champion of digital assets in the Middle East with a growing number of crypto-friendly regulations. Both Binance and FTX recently received their operating licenses in Dubai. Meanwhile, regulators in Abu Dhabi are releasing preliminary recommendations for trading non-fungible tokens.