Klarna partners with Coinbase to accept stablecoin funding from institutions

The BNPL giant will tap USDC-denominated funding via Coinbase as it explores stablecoins for treasury and capital markets use.

Klarna, a Swedish fintech company known for its “Buy Now, Pay Later” (BNPL) service, has partnered with crypto exchange Coinbase to add stablecoins to its institutional funding toolkit.

Under the arrangement, the global payments and digital banking firm plans to raise short-term funding from institutional investors denominated in USDC (USDC), using Coinbase’s crypto-native infrastructure, according to a Friday announcement.

“This is an exciting first step into a new way to raise funding,” Klarna chief financial officer Niclas Neglén said. “Stablecoin connects us to an entirely new class of institutional investors, and gives us the potential to diversify our funding sources in ways that simply weren't possible a few years ago,” he added.

Read more