Klarna, a Swedish fintech company known for its Buy Now, Pay Later (BNPL) service, has partnered with crypto exchange Coinbase so as to add stablecoins to its institutional funding toolkit.
As a part of the agreement, the worldwide payments and digital banking company plans to boost short-term funds from institutional investors in USDC (USDC), leveraging Coinbase's crypto-native infrastructure, based on an announcement on Friday.
“This is an exciting first step right into a latest way of financing,” said Niclas Neglén, Klarna’s chief financial officer. “Stablecoin connects us to a completely latest class of institutional investors and provides us the power to diversify our funding sources in a way that simply wasn’t possible a couple of years ago,” he added.
The latest funding channel will sit alongside Klarna's existing sources, which include consumer deposits, long-term debt and short-term industrial paper.
Klarna’s crypto push
Klarna said the stablecoin financing initiative remains to be in development and is separate from its consumer and merchant-focused crypto plans. These efforts, which can include wallets or additional digital asset services, are expected to advance further in 2026.
However, the payments company warned that the initiative is subject to regulatory, market and operational risks, noting that actual results could differ from expectations.
Klarna said it selected Coinbase for the initiative due to its experience in providing crypto infrastructure to large enterprises. The exchange currently supports greater than 260 firms worldwide and offers custody, settlement and blockchain-based financial services.
Klarna launches dollar-backed stablecoin
Last month, Klarna launched a US dollar-pegged stablecoin, becoming the primary digital bank to issue a token on Tempo, a brand new Layer 1 blockchain developed by Stripe and Paradigm. The stablecoin called KlarnaUSD is currently lively on Tempo's testnet, and a mainnet launch is planned for 2026, based on the corporate.
The token was developed by Stripe-owned stablecoin infrastructure company Bridge and expands Klarna's long-standing partnership with Stripe across its global payments network.
The GENIUS Act, passed within the United States in July, set clear rules for stablecoins and helped fuel a wave of latest issuance.
