Klarna Partners With Privy to Explore Use of Crypto Wallets

Bitcoin Magazine

Klarna Partners With Privy to Explore Use of Crypto Wallets

Just weeks after announcing a stablecoin, Swedish fintech giant Klarna is taking another step into crypto. The company has teamed up with Privy, a wallet infrastructure platform owned by Stripe, to explore digital asset solutions for its users.

The partnership will focus on research and development of crypto wallet features, the company said. The two aim to make it easier for everyday users to store, use, and send digital assets. The move builds on the company’s recent launch of KlarnaUSD, a U.S. dollar-backed stablecoin issued on the Tempo blockchain.

“Millions already trust Klarna to manage everyday spending, saving, and shopping,” said Sebastian Siemiatkowski, CEO and co-founder. “That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters. With Privy, we plan to build products that feel as intuitive as any other Klarna feature.”

KlarnaUSD was launched with Tempo and Bridge, a Stripe-backed stablecoin infrastructure provider. 

The token is live on Tempo’s testnet and expected to launch on mainnet in 2026. The fintech giant said the stablecoin could reduce global cross-border payment costs, currently estimated at $120 billion annually.

100 million accounts coming to crypto via Klarna

Privy powers over 100 million accounts for more than 1,500 developers. The platform supports crypto-native applications like OpenSea and Hyperliquid. 

Henri Stern, CEO and co-founder of Privy, said the partnership will allow users to hold a wide variety of digital assets, trade safely, and transact with friends anywhere in the world.

“We’re proud to partner with world-class fintechs like Klarna, providing the secure, enterprise-ready infrastructure they need,” Stern said. “Privy aims to be the backbone for any business that wants to harness the exciting capabilities crypto and stablecoins offer.”

The initiative reflects a growing trend. Traditional fintechs are now testing ways to integrate crypto tools into everyday consumer finance. The company said any future wallet or crypto product would require the necessary regulatory approvals before launch.

Venture capital firm a16z estimates that 716 million people globally hold cryptocurrencies. Between 40 million and 70 million transact with crypto each month. That figure grows by roughly 10 million users a year.

Klarna’s push into crypto marks a sharp turn for the company. CEO Siemiatkowski was once a vocal skeptic of digital currencies. 

He said the market’s maturity and Klarna’s global reach now justify this entry. Klarna serves 114 million customers and processes $112 billion in annual gross merchandise volume.

The company plans to explore further crypto initiatives. A blog post on Thursday hinted at a new announcement “in a week or so,” suggesting more developments are coming soon.

This post Klarna Partners With Privy to Explore Use of Crypto Wallets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.