Klarna is making a surprising move by introducing KlarnaUSD, a stablecoin pegged to the dollar, aimed at drastically reducing the costs of international payments. This strategic move comes as cross-border fees still amount to nearly $120 billion annually. The goal is clear: a faster, cheaper digital currency better suited for global use.
A Stablecoin Launched on Tempo, Stripe and Paradigm’s Blockchain
KlarnaUSD relies on Tempo, a blockchain specialized in high-speed, low-cost transactions. The token is already active on the testnet and poised for deployment on the mainnet by 2026. Its issuance is based on Open Issuance, the stablecoin infrastructure developed by Bridge, a subsidiary of Stripe. This combination provides Klarna with an environment designed for large-scale finance, backed by a protocol that has raised $500 million for a valuation of $5 billion.
Klarna isn’t just adopting existing technology. The company is choosing a technology built for payments.
Strategic Shift at the Top of Klarna
Sebastian Siemiatkowski, long skeptical of crypto, now believes that the industry is finally mature. He sees the new generation of blockchains as fast, secure, and capable of handling millions of transactions seamlessly. Klarna currently serves 114 million customers and processes $112 billion in annual volume. An ideal ground to test a stablecoin that can streamline global payments.
Global Adoption Driving Institutions to Accelerate
$27 Trillion in Stablecoin Volumes: A Market Becoming Inevitable
According to McKinsey, stablecoins already represent $27 trillion in annual volume. This trend has convinced banks, fintech, and public institutions to rethink their settlement tools. The USD market dominates, driven by global demand for fast and liquid payments. So, it’s no surprise that Klarna opts for a dollar-backed currency despite being headquartered in Europe.
Visa, JPMorgan, Central Banks: The Game Expands
Visa is now testing payments in stablecoin for creators. JPMorgan is experimenting with its own on-chain solutions. Governments are also moving fast: the UK proposes a framework for systemic stablecoins, Canada integrates regulation into its federal budget, and the EU continues to progress on MiCA. In the US, the discussion continues with the recent implementation of the GENIUS Act, the first federal framework dedicated to stablecoins.
The launch of KlarnaUSD is not merely a technological test. It sends a signal to the sector: the next payment battle will unfold on the blockchain. And players able to combine users, volume, and crypto infrastructure might gain a decisive edge.
