‘Buy now, pay later’ giant Klarna debuts stablecoin on Stripe-backed Tempo blockchain
Crypto Briefing
Klarna launched its stablecoin, KlarnaUSD, on the Stripe-backed Tempo blockchain to lower cross-border payment costs.Summary
The Swedish "buy now, pay later" fintech giant, Klarna, has introduced its own stablecoin, KlarnaUSD, on Tempo, a blockchain developed by Stripe and Paradigm. This move is part of a broader strategy to streamline international payments and reduce costs for both consumers and merchants by utilizing stablecoin transactions to bypass traditional intermediaries like the SWIFT network. Initially, KlarnaUSD will be used for internal payment processes, with plans to expand its use to merchants and consumers later. This launch follows CEO Sebastian Siemiatkowski's announcement in February that Klarna intended to integrate cryptocurrency services.
(Source：Crypto Briefing)