While Klarna’s P2P payments currently run on traditional banking rails, the company is already exploring stablecoin-based options to further enhance speed, reach, and efficiency.
Klarna, the global digital bank and flexible payments provider, has launched instant peer-to-peer payments in 13 European countries*, marking the next step in its evolution as a digital bank. „The new feature enables Klarna customers to send money to friends and family, whether splitting bills or gifting cash, directly from the Klarna app: as simple as handing someone cash, with the protection of a regulated bank.” – according to the press release.
Sebastian Siemiatkowski, co-founder and CEO of Klarna commented: “Customers are sick of the friction and fees of traditional banking, which is why millions signed up to Klarna Card within a few months of launch. With peer-to-peer payments we’re making it even easier to manage all of your payments through Klarna, now including small transfers, making managing your money quicker, easier, and cheaper.”
„To send money, users simply choose a recipient using a phone number, email address, QR code, or a saved contact. After confirming the amount, Klarna runs fraud and eligibility checks before proceeding with the payment. At launch, transfers work between Klarna users, with plans to soon expand to non-Klarna customers and cross-border payments, allowing Klarna to cover even more everyday banking and money management needs.” – the company explained.
The launch follows a year of rapid growth for Klarna’s banking products. Since the introduction of Klarna Balance in August 2024, global deposits have almost doubled, from $9.5bn to $14bn by September 2025. Klarna’s new flexible debit card has also gained significant traction, with 4 million sign-ups in its first four months, contributing to a powerful flywheel in which card payments now make up 15% of total volume.
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*Launch countries: Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, United Kingdom.
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