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Klarna<\/a> has launched <\/span>KlarnaUSD<\/span><\/a>, its first stablecoin and the first bank-issued token to debut on Tempo, a new payments-focused blockchain built by Stripe and Paradigm.<\/span><\/p>\n The move, announced Tuesday (Nov. 25), positions the Sweden-based digital bank and payments provider to test blockchain-based settlement at a moment when stablecoin activity is rapidly scaling. McKinsey estimated the asset class now supports $27 trillion in annual transaction volume and could overtake traditional payment networks before the decade ends. Klarna said it views stablecoins as a potential lever to reduce cross-border payment costs, a segment that generates an estimated $120 billion in fees globally each year.<\/span><\/p>\n KlarnaUSD is being issued through Open Issuance by Bridge, a stablecoin infrastructure platform owned by Stripe. The token is set to go live on Tempo\u2019s mainnet in 2026 and is currently active only on the network\u2019s testnet, where it is not publicly available. Klarna said the controlled environment provides space for early technical integration, prototyping and risk evaluation ahead of a full launch.<\/span><\/p>\n Announcing the stablecoin, Klarna highlighted the potential for its scale \u2014 114 million customers and $112 billion in annual gross merchandise volume \u2014 to accelerate adoption of lower-cost blockchain payment rails.<\/span><\/p>\n The initiative marks a shift for Klarna CEO Sebastian Siemiatkowski<\/a>, who has historically been skeptical of crypto.<\/span><\/p>\n \u201cWith Klarna\u2019s scale and Tempo\u2019s infrastructure, we can challenge old networks and make payments faster and cheaper for everyone,\u201d Siemiatkowski said in a statement. He added that crypto infrastructure has reached a point of speed, security and cost efficiency suitable for high-volume payment use cases.<\/span><\/p>\n Advertisement: Scroll to Continue<\/p>\n<\/div>\n The initiative also expands Klarna\u2019s existing relationship with Stripe, which already supports the company\u2019s payments infrastructure across 26 markets. Klarna said the KlarnaUSD announcement is the first in a broader set of forthcoming crypto-related initiatives and plans to reveal an additional partner in the coming weeks.<\/span><\/p>\n Notably, Stripe\u2019s stablecoin arm Bridge has come <\/span>under fire<\/span><\/a> recently. Four organizations (<\/span>Independent Community Bankers of America<\/span><\/a>\u202f[ICBA], the\u202f<\/span>Bank Policy Institute<\/span><\/a>\u202f[BPI], the\u202f<\/span>National Community Reinvestment Coalition<\/span><\/a>\u202f(NCRC) and\u202f<\/span>Fair Finance Watch<\/span><\/a>\u202f[FFW]) recently \u202fsubmitted comments to the\u202f<\/span>Office of the Comptroller of the Currency<\/span><\/a>\u202fagainst Bridge\u2019s application for a national trust bank charter.<\/span><\/p>\n Overall, the stablecoin space is evolving quickly.<\/span> Stablecoin payment platform\u202f<\/span>Pay3<\/span><\/a> recently debuted its <\/span>Agentic Payments Platform<\/span><\/a>, using artificial intelligence (AI) agents to enact transactions. <\/span>HSBC<\/span><\/a>\u202f<\/span>is reportedly\u202f<\/span>expanding<\/span><\/a> its tokenized deposits services. Visa, too, is <\/span>embracing<\/span><\/a> Stablecoins.<\/span><\/p>\n