365Crypto
Klarna Steps Into Crypto
Klarna has taken a bold step into the crypto arena with a new USD-pegged stablecoin built on Tempo, the layer-1 chain created by Stripe and Paradigm. KlarnaUSD is live on testnet, with a mainnet debut planned for 2026. The move marks Klarna as the first financial institution to issue a token on Tempo. The stablecoin was built using Bridge, Stripe’s stablecoin infrastructure platform.
A New Phase for the Fintech Giant
Klarna’s CEO said the company sees crypto as fast, secure, and ready for global scale. The Swedish fintech wants to explore how stablecoins can reduce the cost of its internal payment flows. Klarna is known for online checkout tools and its buy-now-pay-later service, though it has no plans to integrate crypto into installment payments for now.
Stablecoins Surge in a Busy Year
New US rules under the GENIUS Act have fueled a wave of stablecoin launches. MetaMask rolled out mUSD earlier this year with Bridge and M0, boosting its liquidity options. Western Union is building a stablecoin settlement system using Solana for its US Dollar Payment Token, set to go live in 2026. Visa also expanded its stablecoin settlement network across Stellar and Avalanche.
Competition Heats Up Across the Market
The stablecoin sector has climbed to about $304 billion. Tether still leads with $184 billion, while Circle follows at around $74.3 billion. Traditional payment companies, fintechs, and crypto-native teams are racing to build stablecoins that are faster, cheaper, and easier to settle across global rails.
Footing:
Stablecoin: A crypto asset designed to keep a fixed value, usually tied to USD.
Layer-1 chain: A base blockchain like Bitcoin or Ethereum where transactions happen directly.
BNPL: Short-term credit model where customers “buy now, pay later.”
