Dubai’s schooling system is considered one of the most expensive educational institutions around the globe. To this end, many parents struggle to make payments in the form of cash. Under these circumstances, a local school has taken the initiative to consider cryptocurrencies as a mode of payment. Recently, Dubai has become the epicenter of cryptocurrency enterprise promotion.
Since last year, several digital asset organizations have started to invest in the region. It seems that the government of Dubai is planning to increase the local cryptocurrency adoption with other outlets for its expenditure. According to the latest local media reports, one school, in particular, has decided to take the lead in this matter by announcing crypto acceptance.
A new article published in Dubai news outlet Zawya reports that the parents of the students at a local Dubai school can now pay for their tuition fees in the form of cryptocurrencies. Thus far, the two nominated cryptocurrencies are Bitcoin and Ethereum by the school administration. It is worth noting that the schooling project is said to be under construction at the time. Dubai can become the first country to introduce crypto payments in the education sector.
The School under question is planning to go into business starting from September this year. The media reporter also explained that with the assistance of the local cryptocurrency organization, all the payments would be converted into Dirhams. Dr. Adil Alzarooni recently claimed that cryptocurrencies have become more commonplace recently in comparison to the last decade.
Dubai has Issued Crypto Licenses to Several Cryptocurrency Exchanges
The cryptocurrency industry has been gaining a lot of attention from the government of Dubai. Recently, the Middle Eastern hub of economic activity decided to issue practice licenses to several crypto organizations. Among the first enterprises to apply and acquire a crypto registration is Binance. Just a few days later, another big crypto organization FTX confirmed crypto certification in the region as well.
ByBit and Crypto.com are two more cryptocurrency organizations that have almost completed the crypto registration process in Dubai. Crypto.com management has confirmed that the company will start to present its massive presence in several regions of UAE.