Klarna is jumping into crypto for the first time, introducing KlarnaUSD as stablecoin activity surges to an estimated $27 trillion a year. It’s a big shift for a company whose CEO once publicly doubted the value of crypto, and it comes as analysts predict stablecoins could surpass traditional payment networks before the decade ends.
KlarnaUSD will run on Tempo, the new blockchain launched by Stripe and Paradigm for payments. Tempo is pitched as a simpler, cheaper alternative to current systems. With cross border payments generating an estimated $120 billion in annual fees, Klarna says it wants to cut costs for both shoppers and merchants. Still, with so many stablecoins already fighting for space, it is fair to wonder whether the market truly needs yet another one.
Sebastian Siemiatkowski, Klarna’s co founder and CEO, is clearly convinced the time is right. He said, “With 114 million customers and $112 billion in annual GMV, Klarna has the scale to change payments globally: with Klarna’s scale and Tempo’s infrastructure, we can challenge old networks and make payments faster and cheaper for everyone.” He also said, “Crypto is finally at a stage where it is fast, low cost, secure, and built for scale. This is the beginning of Klarna in crypto, and I’m excited to work with Stripe and Tempo to continue to shape the future of payments.”
KlarnaUSD is being built on Open Issuance by Bridge, a Stripe owned stablecoin infrastructure platform. It is already running on Tempo’s testnet, giving Klarna early access for testing and integration. The public rollout will happen in 2026 when Tempo’s mainnet goes live. Klarna says this is just the first step and that it plans to announce another crypto partner in the weeks ahead.
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