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Klarna Moves Into Stablecoins via Stripe-Backed Tempo Blockchain in Sweden

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Swedish fintech large Klarna is getting into the stablecoin market, marking one among its greatest strategic shifts since going public.

The company said on Tuesday that it’ll launch a U.S. dollar-backed token known as KlarnaUSD, positioning the transfer as a step towards quicker and cheaper international funds at a time when the stablecoin sector is increasing underneath rising regulatory scrutiny.

Klarna Joins PayPal and Stripe in Stablecoin Push With 2026 Launch of KlarnaUSD

KlarnaUSD is presently in testing and is scheduled to go dwell on the Tempo blockchain in 2026.

Tempo, developed by Stripe and Paradigm, is designed particularly for funds and serves because the spine for Stripe’s personal blockchain infrastructure product, Bridge, which is able to situation the token.

Klarna mentioned the asset might be absolutely backed by U.S. {dollars} and constructed for on a regular basis commerce, together with cross-border transactions that stay gradual and costly for a lot of customers.

The resolution locations Klarna amongst a rising group of worldwide fee companies rolling out their very own stablecoins.

PayPal launched its U.S. dollar token last year, whereas Stripe entered the market after its $1.1 billion acquisition of Bridge.

Klarna is now the primary financial institution to undertake Stripe’s stablecoin stack for international fee settlement, increasing on an current partnership in which Stripe processes a big share of Klarna’s transactions worldwide.

Klarna’s U.S. enterprise stays its largest market, giving the corporate a broad person base for a possible stablecoin rollout.

Klarna’s entrance comes after CEO Sebastian Siemiatkowski, lengthy skeptical of crypto, confirmed the agency’s shift in strategy, saying in an announcement that digital property had reached some extent the place they’re “quick, low-cost, safe, and constructed for scale.”

Klarna has greater than 114 million customers and processed $112 billion in gross merchandise worth over the previous 12 months, giving it the size to check blockchain funds at a worldwide degree.

The announcement additionally follows the corporate’s stronger-than-expected quarterly earnings, its first since its extremely anticipated September itemizing.

Global Institutions Accelerate Stablecoin Adoption as Market Tops $300B

The launch is unfolding throughout a broader wave of institutional adoption of stablecoins. Western Union plans to release a dollar-backed token on Solana in 2026, looking for to scale back worldwide remittance charges that whole roughly $120 billion yearly.

Visa has reported more than $140 billion in stablecoin and crypto fee flows since 2020 and plans to assist further tokens throughout a number of blockchains.

Cash App recently rolled out Lightning payments and mentioned stablecoin transfers will quickly be added to the platform.

JP Morgan and Citi are growing tokenized deposit techniques, whereas China’s largest tech companies have begun exploring deposit-token fashions that adjust to home guidelines.

Global governments are additionally shifting in parallel. Kyrgyzstan launched a national som-backed stablecoin this 12 months because it assessments a CBDC.

Wyoming deployed 700,000 state-issued stablecoins throughout seven blockchains, the primary initiative of its type in the United States.

Also, South Korea is making ready new laws for a won-backed stablecoin, and Japanese megabanks plan to issue one trillion yen price of digital tokens over three years.

The stablecoin market now stands at roughly $309 billion, according to DefiLlama, up greater than 6,000% since late 2019.

Source: DefiLlama

Tether leads with $184 billion in circulation, adopted by USDC at $74 billion.

Analysts at Citigroup anticipate issuance to reach $1.9 trillion by 2030 in their base case, reflecting accelerating institutional demand.

As Klarna prepares to enter the sector, the agency joins a quickly increasing area of banks, fee processors, and tech platforms shifting towards blockchain-based settlement.

The firm says KlarnaUSD is not going to substitute current fee strategies however will function a quicker different for customers shifting funds throughout borders or between platforms.

The put up Klarna Moves Into Stablecoins via Stripe-Backed Tempo Blockchain in Sweden appeared first on Cryptonews.

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