Tuition Fees in Bitcoin and Ethereum to be Accepted by Dubai School. Dubai seeks to increase crypto adoption through different means after becoming the headquarters of many digital asset startups in recent months. This time, a local school is claimed to be considering collecting digital asset payments as a kind of tuition.
Is a Dubai School going to Acknowledge Crypto?
At a new school in Dubai, parents will be able to pay tuition fees for their children using cryptocurrencies. It would be the first entity in the Middle East to accept digital asset payments as a result of this decision.
The Citizens School is expected to open its doors in September of this year, and it will accept bitcoin (BTC) and ether (ETH), the two most valuable cryptocurrencies by market capitalization (ETH). Nonetheless, the cash will be automatically changed into Dirhams by a local company, according to the story.
The decision was primarily influenced by the city’s recent efforts to construct a digital asset legal framework and promote Dubai as a cryptocurrency hub.
A few years ago, cryptocurrency was only a buzzword among seasoned investors. Cryptocurrency, on the other hand, is rapidly becoming more mainstream, changing the existing financial system. Citizens are changing the education sector by reimagining every aspect of the learning experience,” said Dr. Adil Alzarooni, Founder of Citizens School.
He went on to say that the addition of digital asset payments will help young people play a bigger part in the country’s digital economy.
The price of Bitcoin is currently $47,557.40 USD, with a 24-hour trading volume of $35,007,123,788 USD. In the previous 24 hours, Bitcoin has gained 0.93 percent. With a live market cap of $903,453,270,323 USD.
The price of Ethereum is currently $3,425.03 USD, with a 24-hour trading volume of $20,108,054,181 USD. In the previous 24 hours, Ethereum has gained 2.49 percent. With a live market cap of $411,543,846,196 USD.
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