Klarna, a Swedish fintech company known for its “Buy Now, Pay Later” (BNPL) service, has partnered with crypto exchange Coinbase to add stablecoins to its institutional funding toolkit. Under the arrangement, the global payments and digital banking firm plans to raise short-term funding from institutional investors denominated in USDC, using Coinbase’s crypto-native infrastructure, according to a Friday announcement. “This is an exciting first step into a new way to raise funding,” Klarna chief financial officer Niclas Neglén said. The new funding channel will sit alongside Klarna’s existing sources, which include consumer deposits, long-term debt and short-dated commercial paper.
Klarna said that the stablecoin funding initiative remains in development and is separate from its consumer- and merchant-facing crypto plans. Those efforts, which may include wallets or additional digital asset services, are expected to progress further in 2026. However, the payments firm cautioned that the initiative is subject to regulatory, market and operational risks, noting that actual outcomes could differ from expectations.
Klarna said it selected Coinbase for the initiative due to its experience providing crypto infrastructure to large enterprises. The exchange currently supports more than 260 businesses globally, offering custody, settlement and blockchain-based financial services. Last month, Klarna launched a US dollar–pegged stablecoin, becoming the first digital bank to issue a token on Tempo, a new layer-1 blockchain developed by Stripe and Paradigm. The stablecoin, called KlarnaUSD, is currently live on Tempo’s testnet, with a mainnet launch planned for 2026, according to the company.
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