Klarna Becomes First Bank To Issue Stablecoin On Stripe's Tempo Network

Benzinga

Klarna launched KlarnaUSD on Stripe’s Tempo blockchain, becoming the first bank to issue a stablecoin on the network to cut cross-border settlement costs. The move comes as stablecoin volume and market cap surge, creating favorable conditions for adoption. Analysts are watching whether the blockchain strategy can help turn around Klarna’s falling share price.

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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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