An educational institution opening doors in September 2022, Citizens school will be accepting cryptocurrencies such as Bitcoin and Ethereum as the mode of tuition fee payments.
This makes it the first of its kind in the Middle East education sector to welcome digital currency payments for tuition fees.
The school aims to provide parents with flexible payment options. This is in addition to traditional forms of payments and interest-free monthly payment options that Citizens School will offer.
Payments using cryptocurrencies are accepted through a tie-up with a digital currency platform that processes cryptocurrency payments and automatically converts them to dirhams (AED).
Crypto payments in the education sector
The move toward cryptocurrency payment options follows the Dubai Government’s recent adoption of its first law regulating virtual assets, ensuring a safe and advanced legal framework for investors.
The founder of Citizens School, Dr Adil Alzarooni, said: “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 – be it the way our children learn, how we equip our teachers to be mentors, what our learners choose to wear, or the ways that parents can pay for tuition.”
Alzarooni added: “By introducing this new payment facility, we look forward to enhancing the role of young generations in achieving the UAE’s digital economy. As more people embrace the era of digitalisation, today’s children will become the entrepreneurs and investors of tomorrow.”
In line with the nation’s goal to become a global hub for cryptocurrency as market capitalisation hits $1.9 trillion, Citizens School strives to help cement the UAE as a leader within the global digital economy.
Furthermore, it aims to deliver growth that is aligned with the UAE Centennial 2071, especially by providing an excellent education for a diversified knowledge economy. The school seeks to become an incubator for entrepreneurial ideas and children-led innovation.
The CEO of the Citizens School, Hisham Hodroge, said: “Introducing the ability to pay tuition fees through cryptocurrencies goes beyond just providing another payment option.
“It is aimed at creating an interest in growing trends and breakthrough technologies that will have a profound effect on the lives of young generations. It is also a means to further drive interest in the applications of blockchain – a technology that Citizens School intends to deploy, in time, across several aspects of its academic and administrative operations.”
The Citizens schooling experience centres around future-proofing students by equipping them with a rich, connected bank of knowledge and skills relevant for the 21st century, through its custom-built curriculum – Citizens Tapestry.
Being a partner with a leading school group in the UK, the curriculum is based on Uk National Curriculum and enriched with six key variables: Mindset, Entrepreneurship, Health and Wellbeing, Sustainable Leadership, Global and Digital Literacy.
