Elite school in Dubai will start accepting tuition fees in cryptocurrency

Dr. Adil Alzarooni, the school’s founder, stated he is keen to get children interested in innovations in the field of the digital economy

29.03.2022 - 15:30

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What’s new? The Citizens School, Dubai’s elite school, will be the first school in the Middle East to accept cryptocurrencies to pay for tuition. The Citizens School will open its doors in September 2022. The school will accept payments in BTC and ETH, in addition to traditional forms of monthly fees. It is known that cryptocurrencies will be automatically converted into dirhams by a local company. This is reported by Zawya magazine.

Zawya’s material

What preceded it? The transition to payments using cryptocurrencies followed the creation of the UAE Virtual Assets Regulatory Authority (VARA). The agency regulates the cryptocurrency industry. The work permits will only be issued to those firms that open their branch in the UAE. The FTX crypto exchange was the first to receive a license in Dubai.

The experts of the crypto industry believe that the UAE authorities may allow to pay salaries and accept utility payments using cryptocurrencies.

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