Klarna Taps Stripe to Launch KlarnaUSD Stablecoin
Buy Now, Pay Later firm Klarna is launching a stablecoin, marking a sharp reversal for its formerly crypto-skeptic CEO. In a press release Tuesday, the Swedish fintech company announced KlarnaUSD, a new stablecoin built in partnership with payments giant Stripe.
The project targets the $120 billion cross-border payments market, aiming to cut transaction fees. KlarnaUSD will be issued on Tempo, a new payments-focused blockchain developed by Stripe and Paradigm. The infrastructure is built on Bridge, a platform Stripe acquired.
“With Klarna’s scale and Tempo’s infrastructure, we can challenge old networks and make payments faster and cheaper for everyone,” Klarna co-founder and CEO Sebastian Siemiatkowski stated.
A full mainnet launch is planned for 2026, though the coin is currently live on a testnet.
The move represents a complete turnaround for Siemiatkowski, who previously admitted the company was wrong about crypto. This follows a broader trend of fintech companies, including PayPal, entering the stablecoin market. Klarna noted this is just the beginning of its crypto initiatives.
