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Klarna Taps Coinbase to Raise USDC Funding From Institutions

The move opens a new pipeline of institutional liquidity in USDC to diversify the BNPL lender’s short-term funding.

Sebastian Siemiatkowski, cofounder and CEO of Klarna.
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Overview

  • Klarna announced on Dec. 19 that it will use Coinbase’s infrastructure to accept USDC from institutional investors for short-term financing.
  • The program adds stablecoins to Klarna’s existing funding mix, which includes consumer deposits, long-term loans, and commercial paper.
  • CFO Niclas Neglén said the arrangement connects Klarna to a new class of institutional investors and marks an early step in using digital assets alongside traditional funding.
  • The treasury initiative is separate from consumer and merchant crypto offerings expected in 2026, as Klarna continues KlarnaUSD testnet work and wallet prototyping with Privy.
  • The shift aligns with broader stablecoin adoption under a new U.S. regulatory framework, with firms such as SoFi, Sony’s banking arm, and Block pursuing similar efforts and Coinbase providing the rails.