BNPL giant Klarna is leveraging USDC denominated Capital funding through Coinbase, expanding its research into stablecoin applications in treasury management and Capital markets.
Klarna , a Swedish-based fintech company known for its buy now pay later (BNPL) service, has partnered with cryptocurrency exchange Coinbase to add stablecoins to its fundraising tools for institutional investors. This move marks a bold foray by a global digital bank into Capital - based finance.
According to the agreement announced on Friday, the global payments company plans to raise short-term Capital from institutional investors, identified in USDC , through Coinbase's crypto-native infrastructure. Niclas Neglén, Klarna's Chief Financial Officer, said this is a pioneering step toward a completely new fundraising method. He emphasized that the stablecoin helps Klarna connect with a whole new group of institutional investors, while diversifying Capital Capital in ways unimaginable just a few years ago.
This new Capital channel will operate in parallel with Klarna's existing Capital sources, including consumer deposits, long-term debt, and short-term commercial paper. Integrating stablecoins into the Capital structure demonstrates a strategic shift by traditional financial institutions in adopting digital asset technologies.
Development roadmap and direction for cryptocurrency assets.
Klarna stated that its stablecoin Capital initiative is still in development and separate from its consumer and merchant-oriented crypto asset plans. Those efforts could include e-wallets or additional digital asset services, which are expected to be expanded in 2026. However, the company also cautioned about legal, market, and operational risks, noting that actual results may differ from initial expectations.
Klarna chose Coinbase because of its experience in providing cryptocurrency infrastructure for large-scale businesses. Currently, the exchange supports more than 260 global businesses with chain based custody, payment, and financial services.
Last month, Klarna launched KlarnaUSD, a USD- Peg stablecoin, becoming the first digital bank to Token Issuance on Tempo – a new layer-1 chain developed by Stripe and Paradigm . The Token is built by Bridge, Stripe's stablecoin infrastructure company, expanding the long-standing partnership between the two companies. This stablecoin currently operates on Tempo's testnet, with Primary Network rollout expected in 2026.
The GENIUS Act, passed in the US in July, established a clear regulatory framework for stablecoins and contributed to a new wave of issuances in this sector, creating a favorable legal environment for initiatives like Klarna's.
