Citizens School first in Middle East to accept cryptocurrencies for fees

By Leandra Monteiro

Citizens School – an educational institution conceived, designed and developed in the UAE has announced that it will accept cryptocurrency as a mode of payment, making it the first of its kind in the Middle East to let parents pay tuition fees using digital currency.

Set to open doors 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 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).

The move towards 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. 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 excellent education for a diversified knowledge economy. The school seeks to become an incubator for entrepreneurial ideas and children-led innovation.

Dr. Adil Alzarooni, Founder of Citizens School 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. 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.”

Hisham Hodroge, CEO of Citizens School 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.”