Swedish fintech giant Klarna, best known for its buy-now, pay-later services, is deepening its move into crypto by teaming up with Privy, a wallet infrastructure provider backed by Stripe.
The two companies will co-design and test crypto wallet features aimed at helping everyday users store, use and send digital assets, the companies said, in a push to “power a new generation of crypto products for Klarna users.”
The project builds on Klarna’s recent rollout of KlarnaUSD, a dollar-backed stablecoin launched with Stripe’s Bridge platform.
Klarna says it now wants to make crypto more accessible by embedding it directly into its financial products, rather than offering it as a standalone app for crypto enthusiasts.
“Millions already trust Klarna to help them manage everyday spending, saving and shopping,” said Klarna CEO Sebastian Siemiatkowski. “That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters.”
Privy, whose tools power over 100 million accounts including platforms like OpenSea, will provide the infrastructure. Klarna users could eventually hold stablecoins or other crypto assets, send money to friends, and potentially invest or transact globally within Klarna’s ecosystem.
The announcement signals a growing trend: mainstream financial players are testing ways to bring crypto tools into traditional consumer finance. Any product Klarna eventually rolls out will still need to pass through regulatory checks.
Once skeptical, the company is now betting that digital currencies and wallets could play a key role in lowering the cost and friction of global payments.