Lomond School, a private boarding institution in Helensburgh, Argyll and Bute, has become the first in the UK to accept cryptocurrency for tuition payments.
Starting from the autumn term, parents will have the option to pay school fees using Bitcoin, with annual fees reaching up to £38,000, according to a report by the BBC.
The school stated that the decision was made in response to growing interest from parents and is consistent with its culture of “independent thinking and innovation.” Despite accepting Bitcoin, all transactions will be instantly converted into British pounds to mitigate the risks of cryptocurrency volatility.
Head teacher Claire Chisholm said the initiative reflects the school’s progressive 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 noted.
Founded in 1977 through the merger of Larchfield School and St Bride’s School for Girls, Lomond serves students from nursery age through to 18 years old. The school assured that all cryptocurrency transactions will be secure, transparent, and fully compliant with UK financial regulations, including anti-money laundering and tax laws.
Bitcoin, a decentralized digital currency, saw significant gains in 2024 but remains highly volatile.
