Following the global acceptance of cryptocurrencies, a new school in Dubai has revealed ambitions to accept the fledgling asset class as a means of tuition payment.
Parents and guardians will be able to pay tuition fees for their children in Bitcoin (BTC) and Ethereum, according to local news site Zawya.
Citizens School, which is set to open in September 2022, has stated that parents and guardians will be able to pay tuition fees for their children in Bitcoin (BTC) and Ethereum (ETH).
This is the first time that parents in the Middle East will be able to pay for education with digital currency.
Cryptocurrencies will revolutionize the educational sector
Citizens Schools established a cooperation with a cryptocurrency payment provider that would aid in the translation of all bitcoin and Ethereum payments to Dirhams, with the goal of providing more flexible payment options for parents.
Citizens School, which will open its doors in September 2022, will accept payments in the two major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH), giving parents a variety of payment alternatives.
Citizens School will also accept traditional means of payment as well as interest-free monthly payment alternatives.
Cryptocurrency payments are accepted through a partnership with a digital currency company that processes cryptocurrency payments and converts them to Dirhams immediately (AED).
“Introducing the possibility to pay tuition fees using cryptocurrency goes beyond merely giving another payment option,” said Hisham Hodroge, CEO of Citizens School.
“Its goal is to pique people’s interest in emerging trends and game-changing technology that will have a significant impact on the lives of future generations. It’s also a way to pique interest in blockchain technologies, which Citizens School plans to use in the future across numerous parts of its academic and administrative operations.”
Educational institution showing their drive towards the acceptance of cryptocurrencies is a big leap toward global adoption. Last month a South Korean university announced that it will be issuing NFT degrees to its students.
Global acceptance of crypto is nearing. Countries and institutions that fail to realize their true potential will fall behind.