Klarna Launches KlarnaUSD Stablecoin to Cut Global Payment Costs
Klarna has launched KlarnaUSD, a US-dollar-backed stablecoin on the Tempo blockchain, aiming to reduce high global cross-border payment fees.Summary
Global digital bank and BNPL provider Klarna has introduced its first stablecoin, KlarnaUSD, becoming the first bank to issue one on Tempo, a payments-focused blockchain developed by Stripe and Paradigm. KlarnaUSD is backed by the US dollar and issued via Bridge, a Stripe company, allowing Klarna to benefit from a branded digital asset without managing the operational burden of reserves or regulatory compliance.
The move is intended to tackle the estimated $120 billion annual cost of global cross-border payment fees. Klarna plans to integrate KlarnaUSD within its internal payment stack first, using it for merchant payouts, cross-border settlement, and refunds, processes currently reliant on slow correspondent-banking systems. The stablecoin runs on Tempo's testnet, with a mainnet launch planned for 2026, offering fast settlement and low fees.
Klarna CEO Sebastian Siemiatkowski stated that crypto is now fast, low-cost, and secure enough for scale. This launch builds on Klarna's existing partnership with Stripe and aligns with a broader trend of large firms exploring stablecoins to bypass traditional payment rails. KlarnaUSD is not yet available to the public, but the company expects to announce further crypto initiatives soon.
(Source：BeInCrypto)