Klarna takes a step into the world of stablecoins in collaboration with Coinbase.

Partnership Between Klarna and Coinbase for Stablecoin

The Swedish fintech company Klarna, known for its "Buy Now, Pay Later" (BNPL) services, has taken a significant step by partnering with cryptocurrency exchange Coinbase in the stablecoin sector. This collaboration aims to add stablecoins to corporate financing tools.

New Financing Model

According to the announcement made on Friday, Klarna aims to provide short-term financing in USDC from corporate investors by utilizing Coinbase's crypto-based infrastructure. Klarna's CFO, Niclas Neglén, stated, “This is an exciting first step toward a new way of fundraising. Stablecoins allow us to meet a completely new class of institutional investors and offer the potential to diversify our funding sources in ways that were previously not possible."

Klarna’s Stablecoin Activities

Klarna's activities in the stablecoin field are continuing to increase. Last month, the company launched a stablecoin called KlarnaUSD, which is pegged to the value of the US dollar. This achievement made Klarna the first consumer payment company to release tokens on Tempo, a new Layer-1 blockchain developed by Stripe and Paradigm.

KlarnaUSD is currently actively used on Tempo's test network, and it is reported that the company plans to launch it on the mainnet by 2026. Additionally, Klarna is expected to further expand its long-term collaboration with Stripe in the global payment network through this stablecoin.

Moreover, the new financing channel will also include various alternative financing methods such as consumer deposits, long-term debts, and short-term commercial papers, alongside Klarna’s existing resources.

The information provided here does not constitute investment advice.