• Sat. May 21st, 2022

Citizens School is the first in the Middle East to accept cryptocurrencies for a fee

ByHazel R. Lang

Mar 29, 2022

Citizens School is the first in the Middle East to accept cryptocurrencies for a fee

By Leandra Monteiro

Today

  • Bitcoin
  • Citizen school
  • digital currency

Civic School – an educational institution designed, designed and developed in the United Arab Emirates announced that it will accept cryptocurrency as a method of payment, making it the first of its kind in the Middle East to allow parents to pay school fees using the currency digital.

Scheduled to open in September 2022, Citizens School will accept payments from the two major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) – providing parents with flexible payment options. This is in addition to the traditional forms of payment and interest-free monthly payment options that Citizens School will offer. Payments using cryptocurrencies are accepted via a link with a digital currency platform that processes cryptocurrency payments and automatically converts them into dirhams (AED).

The move towards cryptocurrency payment options follows the Dubai government’s recent passage of its first law regulating virtual assets, ensuring a safe and advanced legal framework for investors. In line with the country’s goal of becoming a global cryptocurrency hub as the market capitalization reaches $1.9 trillion, Citizens School strives to help solidify the UAE as a leader in the global digital economy. Furthermore, it aims to ensure growth aligned with the UAE Centenary 2071, including providing excellent education for a diverse knowledge economy. The school seeks to become an incubator of entrepreneurial ideas and child-led innovations.

Dr. Adil Alzarooni, founder of Citizens School said, “Cryptocurrency was just a floating term among sophisticated investors some time ago. However, today cryptocurrency is becoming much more mainstream, reshaping the traditional financial system. Likewise, Citizens is disrupting the education sector by reimagining every element of the learning experience – whether it’s how our children learn, how we equip our teachers to be mentors, what our learners choose to wear or the ways parents can pay for school fees. By introducing this new payment facility, we look forward to enhancing the role of younger generations in realizing the digital economy of the UAE. As more and more people enter the age of digitalization, the children of today will become the entrepreneurs and investors of tomorrow.

Hisham Hodroge, CEO of Citizens School said: “Introducing the ability to pay tuition fees via cryptocurrencies goes beyond simply providing another payment option. It aims to create interest in growing trends and technologies breakthroughs that will have a profound effect on the lives of younger generations. It is also a way to generate more interest in blockchain applications – a technology that Citizens School intends to deploy, eventually, in several aspects. of its academic and administrative operations.

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