Klarna announces KlarnaUSD stablecoin launch on Tempo

Swedish fintech steadfast Klarna has announced the motorboat of its archetypal stablecoin, KlarnaUSD, positioning the institution arsenic the archetypal slope to contented a stablecoin connected Tempo.

Tempo is an autarkic blockchain developed by Stripe and Paradigm, designed specifically for outgo transactions.

KlarnaUSD is built connected Open Issuance stablecoin infrastructure level by Bridge, a Stripe firm, and is acceptable to beryllium introduced connected Tempo’s mainnet adjacent year.

According to McKinsey’s estimation, yearly stablecoin transaction volumes person reached $27tn, with projections suggesting that stablecoins whitethorn surpass accepted outgo networks earlier the extremity of the decade.

Klarna noted that cross-border payments presently make astir $120bn successful transaction fees each year, and the institution views stablecoins arsenic a means to importantly alteration these costs for merchants arsenic good arsenic consumers.

Klarna said successful a merchandise that, astatine present, KlarnaUSD is unrecorded lone connected Tempo’s testnet and is not disposable to the public. This allows Klarna aboriginal entree to the infrastructure for precocious testing, prototyping, arsenic good arsenic integration.

The collaboration is said to deepen Klarna’s existing narration with Stripe, which already covers payments infrastructure crossed 26 planetary markets of Klarna.

In its release, Klarna said: “This is the opening of Klarna publically sharing crypto initiatives. We volition uncover our adjacent spouse successful the coming weeks.”

Klarna CEO and co-founder Sebastian Siemiatkowski said: “With 114 cardinal customers and $118bn successful yearly gross merchandise worth (GMV), Klarna has the standard to alteration payments globally: with Klarna’s standard and Tempo’s infrastructure, we tin situation aged networks and marque payments faster and cheaper for everyone.

“Crypto is yet astatine a signifier wherever it is fast, low-cost, secure, and built for scale. This is the opening of Klarna successful crypto, and I’m excited to enactment with Stripe and Tempo to proceed to signifier the aboriginal of payments.”

Recently, Klarna outgo options connected Apple Pay person go disposable to customers successful Spain, Denmark, and Sweden.

"Klarna announces KlarnaUSD stablecoin motorboat connected Tempo" was primitively created and published by Electronic Payments International, a GlobalData owned brand.

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