00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Klarna launched Klarna USD on Stripe's Tempo blockchain, becoming the first bank to introduce
00:07a stablecoin on that network as it seeks faster and cheaper cross-border settlement,
00:12according to Benzinga. The company serves 114 million customers and processes $112 billion
00:19in annual payment volume. It aims to reduce global cross-border fees that total nearly
00:24$120 billion each year. Stablecoin market capitalization has climbed to nearly $304
00:30billion, and annual transaction volume has reached nearly $27 trillion, creating favorable
00:37conditions for Klarna's entry. The company operates in 26 markets and could lower conversion costs
00:42as it integrates blockchain into internal payment operations. Klarna shares have fallen nearly 27%
00:49from their $40 IPO price, and analysts will watch whether the stablecoin strategy improves
00:54financial performance. For all things money, visit Benzinga.com.
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