Klarna has officially confirmed the launch of KlarnaUSD, a US dollar-backed stablecoin, entering the digital asset space for the first time. The move marks a notable shift in strategy for the company, whose CEO Sebastian Siemiatkowski had previously been a vocal crypto sceptic.
The stablecoin is currently being tested on Tempo’s testnet and is expected to launch publicly in 2026.
According to McKinsey, stablecoin transactions already surpass $27 trillion annually and could outpace legacy payment networks before the end of the decade. KlarnaUSD is intended to be used for everyday payments and cross-border transactions, targeting what Klarna estimates to be $120 billion in annual global fees.
“With Klarna’s scale and Tempo’s infrastructure, we can challenge old networks and make payments faster and cheaper for everyone,” said Siemiatkowski. “Crypto is finally at a stage where it is fast, low-cost, secure, and built for scale.”
The coin will run on Tempo, a blockchain developed by Stripe and Paradigm specifically for payments. Klarna is the first bank to issue a stablecoin on this network. KlarnaUSD is built using Open Issuance by Bridge, a stablecoin infrastructure platform recently acquired by Stripe.
While PayPal and Stripe have already launched similar dollar-backed tokens, Klarna joins the wave of payment innovators moving toward blockchain-based settlement. Media sources report that Wise and Revolut are working on comparable initiatives, though no official announcements have been made.
The stablecoin is currently unavailable to the public. Klarna says it will reveal further crypto-related partnerships in the coming weeks. Industry analysts believe Klarna’s scale—114 million customers and $112 billion in annual GMV—could accelerate enterprise adoption of digital currencies.
The launch underscores Klarna’s broader transformation from “buy now, pay later” provider into a full digital bank, and signals its ambition to compete in the infrastructure layer of global payments.
