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Swedish financial technology firm Klarna announced the upcoming launch of its first-ever stablecoin, KlarnaUSD.
The company, which offers “buy now, pay later” services, stated that the move marks its public entry into the crypto space and that it plans to reveal additional partnerships soon.
KlarnaUSD is designed as a stablecoin, meaning its value will be pegged to conventional assets, such as cash or US government bonds, to maintain price stability.
It will operate on the Tempo blockchain, a platform co-founded by Stripe and Paradigm.
Klarna emphasised that this launch positions them as the first bank to release a stablecoin on the Tempo network.
The core motivation for cryptocurrency is to significantly lower costs for both merchants and consumers, particularly by eliminating high cross-border transaction fees.
The company cited market analysis showing that stablecoin transactions currently exceed $27 trillion annually and are poised to surpass traditional payment networks within the decade, potentially.
KlarnaUSD is currently undergoing testing on the Tempo “testnet” and is slated for public availability in 2026.
