Klarna and Shift4 are embracing stablecoins as they seek to capitalize on the digital currency trend. Klarna said it is developing the capacity to raise funding with the digital assets through a partnership with cryptocurrency exchange Coinbase. Klarna, which is licensed as a bank in the European Union, plans to raise short-term funding from institutional investors denominated in USDC utilizing Coinbase’s digitally native infrastructure. USDC is a stablecoin pegged to the value of the dollar and is issued by Circle Internet Group.
Separately, Shift4 announced the launch of a stablecoin settlement platform available to the company’s merchant customers. That platform will give merchants the ability to settle transactions involving digital assets outside of normal banking hours. The Genius Act, signed into law by President Donald Trump in July and creating a regulatory framework for stablecoins, is largely expected to turbocharge the use of the digital assets.
The two firms are hardly alone in taking an interest in stablecoins. Payment processors such as PayPal Holdings and Fiserv have both introduced their own stablecoins and Stripe introduced stablecoin payments for subscriptions in October.
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