At a local school in Dubai, parents will be able to pay their children’s tuition fees in cryptocurrency. Citizens School will start in September and will accept Bitcoin (BTC) and Ether as payment methods (ETH). A local company will convert the cash into dirham, according to the story.
Parents to pay their children’s tuition fees in cryptocurrency
After becoming the headquarters of numerous digital asset firms in recent months, Dubai is attempting to encourage crypto adoption through a variety of methods. This time, it’s been reported that a local school is considering accepting digital asset payments as a kind of tuition.
Citizens School will begin in September and accept bitcoin (BTC) and ether (ETH). A local company will immediately convert the cash into dirham by a local company. Citizens are re-imagining every aspect of the learning experience, causing disruption in the education system.
Parents in Dubai will be able to pay their children’s tuition charges with cryptocurrencies at a new school, according to the Zawya story. As a result of this decision, it will be the first entity in the Middle East to accept digital asset payments.
Citizens School will begin in September and accept bitcoin (BTC) and ether (ETH), the two most valuable cryptocurrencies by market capitalization (ETH). A local company will immediately convert the cash into dirham by a local company, according to the article.
“A while ago, cryptocurrency was only a floating term among well-versed investors. However, today cryptocurrency is becoming much more mainstream, reshaping the traditional financial system. Similarly, Citizens is disrupting the education sector by re-imagining every element of the learning experience.” – commented the Founder of Citizens School, Dr. Adil Alzarooni.
The decision was primarily influenced by Dubai’s recent efforts to develop a digital asset legal framework and promote it as a cryptocurrency hub. He added that the addition of digital asset payments will allow young people to contribute more to the digital economy in the country.
Authorities in Dubai, according to sources, have recently taken a number of other pro-crypto moves. One of the first was the city’s approval of Binance, the world’s largest digital asset exchange.
FTX, a well-known cryptocurrency exchange, is aiming to create a regional headquarters in Dubai, according to sources. This tendency accelerated over the next few weeks, as the number of trading venues planned to follow suit increased.
Bybit and CryptoCom were the most recent companies to announce such plans. CryptoCom, on the other hand, has stated that it plans to hire a large number of people in the coming months. Bybit, according to a business release, has gotten in-principle clearance to conduct a full array of virtual asset operations in Dubai.
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