Morningside School of Music: Edinburgh school becomes the first in Scotland to accept tuition fees in cryptocurrency

Bosses at Morningside School of Music said students who work in the city's expanding fintech sector suggested it would be an easier way for them to pay for lessons.

The school has 700 pupils and teaches course including singing, piano, drums, violin, saxophone.

An Edinburgh music school has been the first in Scotland to accept cryptocurrencies.

Graduates of the school include 'I was I was a Punk Rocker' singer Sandi Thom, 39, and Ash drummer Rick McMurray, 45.

Director Linda Boyd said they already uses Bitcoin to pay for things at the school and believes cryptocurrency will eventually become the norm.

Ms Boyd said: "Some larger companies across the world are already doing this, so it's just a matter of time before smaller businesses like ours start doing the same.

"It's just about giving our customers another way of paying and making life easier for them.

"Edinburgh s got a big fintech industry and many of our pupils work or study in that sector, so for them this is a perfectly natural way to pay.

"We sometimes use things like Bitcoin to pay for goods for the school, so we know how fast and easy it is and want our music students to be able to do the same.

"Cryptocurrency is here to stay and will eventually become a routine way for people to pay for services of all descriptions."

Cryptocurrency involves a digital transaction of virtual money traded over computer networks and not typically backed up by banks.

It is estimated there are now more than 100 million cryptocurrency users around the world.

Reporting by PA

A message from the Editor:Thank you for reading this article. We're more reliant on your support than ever as the shift in consumer habits brought about by Coronavirus impacts our advertisers.

If you haven't already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription.