Swedish fintech powerhouse Klarna has launched its first stablecoin, KlarnaUSD, in a groundbreaking move set to transform international payments. Built on the Tempo blockchain, developed by Stripe and Paradigm, this US-dollar-backed stablecoin is issued through Open Issuance by Bridge, a Stripe company that handles compliance, reserve management, and redemption.
The stablecoin aims to address inefficiencies in cross-border transactions, targeting the reduction of the global $120 billion annual fee burden. Klarna, which processes over $100 billion in payments annually for its 114 million users, plans to integrate KlarnaUSD into its payment stack for merchant payouts, cross-border settlements, and refunds, leveraging blockchain for faster settlement and lower costs.
Currently operating on Tempo's testnet, the mainnet launch is scheduled for 2026. Sebastian Siemiatkowski, co-founder and CEO of Klarna, emphasized, "Crypto is finally at a stage where it is fast, low-cost, secure, and built for scale. This is the beginning of Klarna in crypto." The initiative aligns with McKinsey data showing stablecoin transactions have reached $27 trillion annually, highlighting the growing adoption of digital assets in finance.
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