Former skeptic goes into crypto: Klarna launches its own stablecoin
The Swedish fintech giant Klarna, famous for its "buy now, pay later" model, has announced its entry into the digital asset market by launching its KlarnaUSD stablecoin pegged to the US dollar. The move comes amidst tightening regulatory requirements for digital payments. The stablecoin is currently in the testing phase, and its full launch is scheduled for the near future.
Source Minfin
Klarna CEO Sebastian Siemiatkowski, who used to be a critic of cryptocurrencies, has changed his position, emphasizing that cryptocurrencies have reached a stage of technological progress, making them fast, cheap and safe. KlarnaUSD is not positioned as a speculative instrument, but as a means for daily payments and cross-border transfers, which the company expects to significantly reduce the cost and time of traditional banking transactions.
The stablecoin will be powered by the Tempo blockchain developed by fintech giant Stripe in collaboration with a crypto investment firm. Klarna's entry into this market intensifies competition among large payment systems, which also include Stripe, which has already presented its stablecoin.
