Swedish fintech giant Klarna has announced the launch of its first-ever cryptocurrency, marking a major step into digital finance as the company prepares to roll out new crypto-focused partnerships in the coming weeks.
Klarna CEO Sebastian Siemiatkowski said the firm’s stablecoin, KlarnaUSD, arrives at a time when crypto technology has become fast, secure, and scalable, allowing the company to finally expand confidently into blockchain-driven payments.
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The new digital currency is backed by traditional assets such as cash and US government bonds, and it will operate on Tempo, a blockchain created by Stripe and crypto investor Paradigm. Klarna noted it is the first bank to introduce a stablecoin on this network.
Although KlarnaUSD is currently being tested on Tempo’s testnet, the company plans a full public rollout in 2026. It believes the stablecoin will significantly cut payment costs for consumers and merchants by reducing cross-border transaction fees.
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Klarna also highlighted industry projections showing stablecoin transactions exceeding $27 trillion annually, with experts predicting they may surpass traditional payment networks before the decade ends, a shift Klarna hopes to capitalize on.
Having grown far beyond its buy-now-pay-later origins since its founding in 2004, Klarna now offers digital wallets, cashback rewards, and banking-style services. After its recent New York Stock Exchange listing, the company is valued at around $11 billion.