Dubai School starts accepting BTC, ETH payments for tuition fees and continues to be the leader of global crypto adoption as we can see more today in our latest cryptocurrency news.
After becoming the leader of digital asset companies that are located in Dubai, now, it wants to boost crypto adoption via other tactics. This time, the local Dubai school starts accepting digital asset payments as tuition fees. The parents in Dubai will have an option to pay tuition fees for their kinds using crypto at a new school and this move will make the first such entity to receive digital asset payments in the Middle East.
The Citizens School is set to open in September and will accept the two biggest cryptocurrencies by market cap BTC and ETH. The report explained that the funds will be converted into Dirhams by a local company and the decision was mainly prompted by the recent actions undertaken by the authorities to establish a regulatory framework and develop Dubai into a crypto hub. The founder of the school Dr. Adil Alzarooni noted:
“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.
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Similarly, Citizens is disrupting the education sector by re-imagining every element of the learning experience.”
He added that with the addition of crypto payments, they should enhance the role of younger generations in developing the digital economy of the country. There were plenty of other crypto actions taken in Dubai recently. Among the first ones was the license that the city granted to Binance. Shortly after, reports surfaced claiming that FTX which is another popular exchange wanted to set up regional headquarters in Dubai and this trend enhanced in the next few weeks as the number of trading venues that wanted to mimic this move kept on rising. The two biggest companies to outline such intensions were Crypto.com and ByBit:
“Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai.”
Crypto.com promised to start recruiting a lot of personnel in the next few months and establish a strong presence in UAE.
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