TL;DR
- Klarna and Privy are partnering to integrate crypto functions into the neobank’s ecosystem, allowing users to store, send, and use digital assets.
- The initiative builds on the launch of KlarnaUSD, a dollar-backed stablecoin.
- Privy will provide wallet infrastructure, already used by over 100 million accounts.
Klarna and Privy have formed a partnership to integrate crypto features within the Swedish neobank’s ecosystem, aiming to make it easier for users to store, use, and send digital assets without leaving the existing financial products.
The initiative leverages the recent launch of KlarnaUSD, a dollar-backed stablecoin, and represents a key step for the fintech toward mainstream cryptocurrency adoption.
The collaboration means that Privy will provide wallet infrastructure, already supporting over 100 million accounts and platforms like OpenSea and Hyperliquid. With this support, Klarna will be able to offer users the ability to hold stablecoins and other digital assets, send money to friends, and carry out investments or international transactions—all within the same app they use for shopping, saving, and daily financial management.
Klarna CEO Sebastian Siemiatkowski highlighted that millions of people already trust the company to manage their everyday spending, and this trust allows them to introduce crypto into the financial lives of ordinary users. Henri Stern, CEO of Privy, emphasized that the company’s infrastructure is designed to provide security and scalability, serving as the technological backbone for any business looking to leverage the capabilities of cryptocurrencies and stablecoins.
Klarna’s Project Will Serve as an R&D Pilot
The project is structured as a research and development pilot combining user experience, security, and regulatory compliance. Any product launched will need to obtain the necessary approvals and licenses in each jurisdiction, ensuring adoption occurs within clear legal frameworks. This approach aligns with the growing trend of traditional financial companies incorporating crypto tools into everyday consumer products.
Klarna aims for native cryptocurrency integration to go beyond asset purchases and become a routine experience: users could store digital money, send and receive payments, and participate in investments without switching platforms. According to a16z, 716 million people worldwide own cryptocurrencies, with 40–70 million transacting each month—a number growing by roughly 10 million per year.
Through the partnership, Klarna seeks to transform the reputation of cryptocurrencies, moving them from an enthusiast niche into the financial lives of millions of consumers, offering intuitive, secure, and regulated solutions that reduce complexity and the risks associated with their use
