10 December 2025
Klarna, a well-known company in the "buy now, pay later" sector, is developing its own stablecoin, which will be backed by the dollar. The payment provider is using the new blockchain technology being developed by Stripe and investor Paradigm.
Klarna increasingly wants to position itself as a global digital sofa and payment processor.
By developing its own stablecoin, Klarna joins a growing number of players who believe that digital currencies will play a crucial role in international payments. The market for these transactions currently represents approximately $120 billion in annual transaction fees.
The planned stablecoin, called KlarnaUSD, is being developed on Open Issuance, the stablecoin infrastructure platform of Stripe's subsidiary Bridge. This technology should make it easier for issuers to stablecoins to issue and withdraw funds and to manage their own reserves.
The stablecoin is scheduled to be available on the mainnet of the new Tempo blockchain in 2026. Tempo, an independent company spun off from Stripe, is developing a Layer 1 blockchain network focused on payments.
According to Klarna CEO Sebastian Siemiatkowski, the combination of Klarna's scale and Tempo's infrastructure can lead to more efficient international payments. "With 114 million customers and an annual GMV of $112 billion, Klarna has the scale to challenge existing networks and make payments faster and cheaper."
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