Sweden – Klarna, a Swedish company specializing in “buy now, pay later” services, plans to launch a stablecoin pegged to the US dollar next year. This move comes as traditional financial players expand into the digital payments and cryptocurrency sector. The company aims to strengthen its presence in global markets and expedite cross-border payments with this initiative.
Klarna said the new currency will be pegged to the dollar with a full reserve system. The company will hold an equivalent value of cash and short-term bonds to ensure its price stability. This move is part of a larger strategy aimed at modernizing the company’s financial infrastructure and improving the user and merchant experience in instant transactions.
Klarna’s decision comes at a time when major financial institutions and technology companies are racing to launch more efficient and secure digital payment solutions, especially after companies like PayPal entered the stablecoin market with its PYUSD token. Payment institutions affirm that stablecoins have become one of the most effective tools for facilitating international payments and reducing transfer costs.
According to analysts, Klarna’s entry into this field will give it an additional competitive advantage in an increasingly competitive sector, especially as e-commerce platforms and fintech companies seek to reduce their reliance on traditional banking systems.
The launch of the new currency may also help the company speed up financial settlement processes with traders and reduce fees associated with international transfers.
The company plans to begin testing the new currency with a limited group of partners during the initial phase, before gradually expanding into European and US markets. Klarna emphasizes that this move will not change its business model but will add a new layer of operational flexibility and technical support to its services.
With this move, Klarna becomes the latest entrant into the stablecoin race. This comes at a time when the global financial industry is moving towards greater integration of fintech and cryptocurrencies.
