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Klarna, the global digital bank and payments provider, has launched klarnausd, marking its first entry into the stablecoin sector.
Klarna Brings Stablecoin to Testnet Ahead of 2026 Launch
The launch positions Klarna as the first bank to deploy a stablecoin on Tempo, a new payments-focused blockchain developed by Stripe and Paradigm. The company said the move reflects rising demand for low-cost digital settlement rails, citing McKinsey estimates showing stablecoin transactions exceeding $27 trillion annually.
Klarna views the sector as poised to compete with traditional networks before the decade ends. Klarnausd is issued using Open Issuance by Bridge, a Stripe-owned stablecoin infrastructure provider. The stablecoin is currently live on Tempo’s testnet, giving Klarna early access for integration and internal testing ahead of a public mainnet launch planned for 2026.
Klarna noted the rollout deepens its long-standing relationship with Stripe, which already powers payments infrastructure across 26 of Klarna’s markets.
CEO Sebastian Siemiatkowski said Klarna’s scale — including 114 million customers and $112 billion in annual gross merchandise volume — allows the company to challenge legacy systems. According to Klarna, cross-border payments currently generate an estimated $120 billion in annual fees, representing a significant cost burden that blockchain-based rails could reduce.
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Klarnausd represents the company’s first publicly disclosed crypto initiative, with additional partnerships expected to be announced in the coming weeks. The firm said it views blockchain-based tools as a natural extension of its digital banking and payments products.
Founded in Sweden, Klarna operates as a global digital bank and fintech provider, offering installment payment options, shopping tools, and a branded card. The company claims to serve more than 100 million users and partners with hundreds of thousands of retailers worldwide.
FAQ ❓
- What is klarnausd?Klarnausd is Klarna’s new U.S. dollar-backed stablecoin built for faster, lower-cost payments.
- When will klarnausd be available?Klarna plans a full mainnet launch on Tempo in 2026.
- Which blockchain powers klarnausd?Klarnausd runs on Tempo, a payments-focused chain developed with Stripe and Paradigm.
- Why is Klarna launching a stablecoin?Klarna aims to cut cross-border fees and modernize its global payments network using blockchain technology.