Lomond School, a private co-ed school located in the Scottish town of Helensburgh in the United Kingdom, has become the first educational institution in the country to accept Bitcoin for payments.

According to recent info, the school offers both day and boarding educational programs for students from toddlerhood to young adulthood, aged three to 18, and will allow parents to start paying with Bitcoin from the Autumn term this year.

However, to reduce currency risk, the school will first convert the Bitcoin payments into GBP. The school will also partner with trusted providers, such as CoinCorner and Musquet, which are registered with the Financial Conduct Authority (FCA).

By embracing Bitcoin as a payment method, Lomond School is providing a convenient alternative for both local and international clients.

The school aims to address a long-standing request from numerous “forward-thinking” local families and international educational agents and families who have been seeking this option which removes the uncertainty of exchange rates.

Lomond School Poses as Pacesetter

Claire Chisholm, Principal of Lomond School, will make a formal announcement about the school’s adoption of Bitcoin payments at Cheatcode, a prominent national conference focused on Bitcoin.

The event will feature a lineup of esteemed speakers from the finance, business, and economics sectors, including the Winklevoss twins, founders of Gemini, and Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation.

Meanwhile, Chisholm stated, “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 curriculum and introduced the International Baccalaureate, a globally-renowned qualification favoured by universities and employers worldwide.”

By accepting Bitcoin payments, Lomond School is on its way to following in the footsteps of El Salvador, whose government introduced an education program to equip high school students with Bitcoin knowledge.

UK School Plans to Establish Bitcoin Reserve

In addition to accepting Bitcoin payments, Lomond School also added that it might build a Bitcoin reserve in the future if the asset “gains broader acceptance in the UK and worldwide.”

In a similar development, the United States President, Donald Trump, signed an executive order to establish a Strategic Bitcoin Reserve, a few months after Senator Cynthia Lummis proposed a bill for it.