Scotland’s the Morningside School of Music in Edinburgh took to Twitter to reveal that it would start accepting crypto for tuition payments. The Morningside School of Music in Edinburgh asserted that it acknowledged suggestions from students in the school, various of whom now operate in the city’s burgeoning fintech sector. Linda Boyd, the director of Morningside, elucidates that the school had earlier employed cryptocurrencies such as Bitcoin (BTC) to make business acquisitions. Therefore, it could view the utility in accepting it as a form of payment.
As per Linda, crypto is the next big thing, and people should embrace it by accepting payments in virtual currencies. The Director also advocated that the institution employs Bitcoin to pay for the school’s requirements. It was only appropriate for it to provide pupils with the opportunity to do the same. The music school Director continued that their resolve to receiving crypto payment is similar to a small business welcoming new trends after an example set by more substantial firms. She elucidated that it is a viable alternative payment for school fees and other students’ academic bills. She also references the city’s developing fintech space as there were never-ending requests for the school to accept crypto payment continued to roll in.
Edinburgh is famous for Crypto Businesses
The Scottish city is famous for having young entrepreneurs who have rose to six-figure profits from crypto trades. Moreover, Edinburgh also has billboards promoting Bitcoin and crypto exchanges. It indicates that the city consists of various people interested in joining the crypto space. Furthermore, Zumo Pay, an Edinburgh-based cryptocurrency startup, multiplied its number of users in December last year. Around 10K users downloaded the app at the end of 2020. The startup initiated a reward for users who suggested the Zumo app to their friends, supporting them to earn 0.02 ETH.
Zumo Pay enabled the users to sell, purchase, spend or collect their rewards instantly when received. Zumo sponsored the Scottish national football team through their Euro-2020 qualifiers against Serbia. Thus, it became the only company from Scotland to sponsor the national team. Zumo CEO Nick Jones elucidated that it was uncommon for a startup to support the team. Although it was fortunate to join hands with the players who grasped the victory through a penalty shoot-out. Conclusively, Linda Boyd contended that cryptocurrency payments for a series of goods and services would become common shortly.
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