March 29, 2024

School in Dubai will accept payments in bitcoin and ethereum

Educational institution Citizens School, located in Dubai, will accept tuition fees in bitcoin (BTC) or Ethereum (ETH).

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Payments using digital assets will be processed by a special platform and automatically converted into diphams of the United Arab Emirates.

“We are looking forward to an increase in the role of younggenerations in the development of the digital economy of the UAE. Today's children will be the entrepreneurs and investors of tomorrow in the age of digitalization,” said Citizens School CEO Hisham Hodpoge.

 

“The ability to pay for education using cryptocurrencies goes beyond just providing another payment option. This is a vehicle for increasing interest in blockchain technology.”

The school, which is scheduled to open in September this year, is located in the very center of Dubai and, apparently, will become international. It will accept students aged from 3 to 11 years old.

On the Citizens School website tuition feesindicated in the range from 45,000 to 65,000 UAE diphams per year (from $ 12,250 to $ 17,700) without VAT. This amount includes school lunches, a personal iPad for learning, field trips, extracurricular activities and transportation.

UAE has become a promoter of digital assets in the MiddleEast, introducing a lot of friendly crypto-currency rules. Large crypto exchanges Binance and FTX have already received crypto licenses in Dubai. Along with this, the regulatory authorities of Abu Dhabi are preparing recommendations for trading in non-fungible tokens.

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