Citizens School in Dubai, which will open in September, plans to offer the parents of the students the possibility to pay for their studies in Bitcoin and Ethereum, local publication Zawya reports.
According to the publication, the payments will be accepted through a processing service that converts crypto assets into the local currency dirham.
Citizens School founder Adil Alzarooni said:
“By introducing a new payment method, we expect the younger generation to play a stronger role in the development of the digital economy in the UAE. While many people are already enjoying the fruits of the new era, today’s children will become the entrepreneurs and investors of the future.”
The authorities of Dubai have recently adopted a law on virtual assets and established a body to regulate the industry – the Dubai Virtual Assets Regulatory Authority. After that, Binance and FTX received a license to operate in the UAE.