Scottish private school announces parents can pay fees using Bitcoin

A private school in Scotland has become the first in the UK to announce it will accept payments of school fees in the cryptocurrency Bitcoin. Lomond School in Helensburgh said the move came after requests from some parents. Tuition payments will be accepted in Bitcoin from autumn term this year, although no other cryptocurrencies can be used. Initially, Bitcoin payments will be converted to UK pounds to "mitigate currency risk". The school said adopting Bitcoin aligned with its "ethos of independent thinking and innovation". The Herald reported the announcement was made by Lomond School principal Claire Chisholm at Cheatcode - a national Bitcoin conference featuring speakers from the world of finance, business and economics. She said: “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. “We were the first boarding school in Scotland to house both boys and girls under the same roof and recently moved away from the Scottish Government‘s SQA [Scottish Qualifications Authority] curriculum and introduced the International Baccalaureate, a globally-renowned qualification favoured by universities and employers worldwide.” The school said every Bitcoin transaction would be "secure, transparent, and lawful", and would meet UK financial regulations, including anti-money laundering and tax compliance. Bitcoin is a type of digital currency that is not controlled by centralised financial institutions. Its price climbed in value in 2024, but it is known to be volatile. Lomond School was founded in 1977 following the amalgamation of Larchfield Academy and St. Bride’s School for Girls, both of which dated back to the 19th century. John Logie Baird was born in Helensburgh and was educated at Larchfield Academy, before going on to the Glasgow and West of Scotland Technical College, and the University of Glasgow. Today, Lomond describes itself as the West of Scotland’s only day and boarding school. The school launched a major fundraising appeal last year following the collapse of a plan to join a “major UK-based schools group”. The deal was said to have been affected by uncertainty related to Labour’s commitment to introducing VAT on school fees.