Klarna Will Launch Stablecoin on Tempo in Effort to 'Challenge Old Networks'

Klarna, a Swedish fintech company that provides “buy now, pay later” services, is launching its own stablecoin on layer-1 network Tempo, according to a Tuesday press release. The token will be called KlarnaUSD when it debuts next year, alongside the mainnet for the network being developed by payments giant Stripe and venture firm Paradigm. Klarna said it now sees stablecoins as a way to “dramatically reduce costs for both consumers and merchants”—but it acknowledged that its co-founder and CEO, Sebastian Si ...