Klarna Plans Crypto Wallet Launch In Partnership With Privy After Stablecoin Debut
Synopsis
The company said the wallet aims to simplify storing, transacting, and using crypto for mainstream users.
Klarna (KLAR) announced on Thursday that it is partnering with Privy to co-design a crypto wallet, just days after the company launched its own stablecoin.
KLAR’s stock edged 0.9% lower in opening trade, with retail sentiment on Stocktwits around the company trending in ‘bearish’ territory over the past day.
The stablecoin, KlarnaUSD, was launched in partnership with Tempo and Bridge and is currently tradable against Solana (SOL) and Binance Coin (BNB), as per CoinGecko data. Klarna said that the wallet will integrate seamlessly with its existing payment and savings platforms, aiming to lower barriers for everyday users interested in crypto.
Sebastian Siemiatkowski, Klarna’s CEO and co-founder, said the company’s experience in helping millions manage spending and shopping positions it uniquely to introduce crypto to a broader audience. “That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters,” he said.
The move reflects a growing trend among payment platforms to move into crypto.
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