Klarna, the global digital bank and flexible payments provider, has signed a research partnership with Privy, the leading wallet infrastructure platform and a Stripe company, „to explore, research and co-design potential wallet solutions to power a new generation of crypto products for Klarna users” – according to the press release.
„The agreement follows Klarna’s recent launch of its own stablecoin, KlarnaUSD, in partnership with Tempo and Bridge. Now, the company is exploring building a wallet to make it easier for everyday people to actually use, store, and transact with crypto, lowering the barrier for mainstream adoption.” – Klarna explained.
“Millions already trust Klarna to help them manage everyday spending, saving and shopping. That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters. The technology has matured, and with Privy we plan to build products that feel as intuitive as any other Klarna feature. This is how mainstream adoption happens: simple, safe, and part of daily life,” said Sebastian Siemiatkowski, CEO and co-founder of Klarna.
Venture capital firm a16z estimates that 716 million consumers hold cryptocurrencies worldwide and 40 – 70 million transact with crypto currency each month, a figure that is growing at 10 million a year.
Privy powers over 100 million accounts for 1,500+ developers today, including crypto-native platforms like OpenSea and Hyperliquid, and helps users orchestrate billions in crypto and stablecoin movements every month. This new partnership with Klarna enables every Klarna user to hold a wide variety of digital assets anywhere in the world, invest safely, and more easily trade and transact with friends.
“We’re proud to partner with world-class fintechs like Klarna, providing the secure, enterprise-ready infrastructure they need,” said Henri Stern, CEO and co-founder of Privy. “Privy aims to be the backbone for any business that wants to harness the exciting capabilities crypto and stablecoins offer.”
The partnership represents a research and development initiative as Klarna explores the potential of digital asset infrastructure. Any future product launches would be subject to obtaining necessary regulatory approvals and licenses in applicable jurisdictions.
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