A Scottish boarding school has become the first private school in the United Kingdom to allow parents to pay school fees using cryptocurrency.
Lomond School, located in Helensburgh, Argyll and Bute, said it would begin accepting Bitcoin payments for tuition starting from the autumn term.
Annual fees at the school go as high as £38,000, BBC reports on Saturday.
The school noted that the move followed requests from some parents and aligns with its “ethos of independent thinking and innovation”.
However, all Bitcoin payments will be immediately converted to British pounds to guard against cryptocurrency market volatility.
In a statement on Saturday, Head teacher Claire Chisholm said the school’s decision reflects its forward-looking values.
“For generations, this school has nurtured inquirers, thinkers, communicators, and open-minded risk-takers.
“It’s really no surprise then that the inventor of the television, John Logie Baird, is a former pupil,” she said.
Founded in 1977 through the merger of Larchfield School and St Bride’s School for Girls, Lomond caters to students from nursery age to 18.
The school said all Bitcoin transactions would be secure, transparent, and comply with UK financial regulations, including anti-money laundering and tax laws.
Bitcoin is a digital currency that operates outside traditional banking systems. While its value surged in 2024, it remains highly volatile and subject to rapid fluctuations.
