Klarna Finally Joins the Crypto Revolution — What’s Next?
Swedish Fintech Giant Klarna to Embrace Crypto, CEO Confirms
After years of resistance, Klarna Bank AB, one of Europe’s largest buy now, pay later (BNPL) firms, is finally jumping into crypto. CEO Sebastian Siemiatkowski made the surprise announcement on X, writing:
“I give up. Klarna and me will embrace crypto! More to come.”
This move marks a historic shift for Klarna, which has long held out while competitors like Revolut, Robinhood, and Venmo integrated crypto offerings. But what exactly does Klarna’s crypto embrace mean?
Klarna’s Market Power — Why This Matters
- Valued at $14.8 billion, Klarna serves over 85 million users across Europe.
- Processes more than $100 billion in transactions annually.
- Sequoia Capital, a major investor in Avalanche, Fireblocks, and EDX Markets, holds a 22% stake in Klarna.
Siemiatkowski revealed that three crypto entrepreneurs introduced him to the space through an investment analyst at Sequoia, pushing him to reconsider his stance.
What Could Klarna’s Crypto Future Look Like?
Although Klarna hasn’t detailed its exact crypto strategy, some possibilities include:
✅ Crypto payments: Allowing users to pay with Bitcoin, Ethereum, or stablecoins.
✅ Crypto rewards: Offering cashback in crypto for Klarna purchases.
✅ On-ramp services: Letting users buy, sell, and hold cryptocurrencies within the Klarna app.
However, when a user suggested a “buy crypto, pay later” option, Siemiatkowski quickly shut it down, replying, “probably not.”
The Last Fintech Giant to Fall?
Siemiatkowski jokingly called Klarna the “last large fintech in the world to embrace crypto.” While many rivals, like Revolut and PayPal, have long supported crypto, Klarna’s massive European presence could make this one of the most significant fintech crypto integrations yet.
Still, the CEO warned that it would take time to finalize Klarna’s crypto plans.
Will Klarna’s Crypto Adoption Change the BNPL Industry?
With Klarna’s entry into the crypto space, will other major BNPL firms like Afterpay or Affirm follow? Could Klarna’s move push European regulators to take a stronger stance on crypto payments?
Only time will tell, but one thing is clear: crypto is no longer an option — it’s a necessity for fintech.
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Klarna Finally Joins the Crypto Revolution — What’s Next? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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