Klarna has entered into a partnership with Coinbase to introduce stablecoin-based funding as part of its institutional financing activities.
The arrangement allows Klarna to raise short-term capital denominated in USDC, a USD-backed stablecoin, using Coinbase’s digital asset infrastructure. The funding channel is intended for institutional investors and will operate alongside Klarna’s existing sources of financing, which include consumer deposits, long-term borrowing and short-dated commercial paper. By using a stablecoin tied to the USD, Klarna aims to access dollar-equivalent liquidity directly, without relying on traditional banking rails for settlement.
Representatives from Klarna indicated that the initiative is focused on diversifying funding sources rather than replacing established mechanisms. They described the use of stablecoins as a way to connect with institutional investors that may prefer blockchain-based instruments, particularly for short-term exposure.
Stablecoin funding positioned as early-stage initiative
According to Klarna officials, the use of USDC for funding is still at an early stage and should be viewed as exploratory. They noted that digital assets may increasingly complement conventional funding structures, although the company has not indicated any changes to its wider balance sheet strategy at this stage.
Coinbase is providing the underlying infrastructure for the initiative. Klarna selected the crypto exchange and infrastructure provider based on its experience supporting digital asset operations for a large number of corporate clients globally. The collaboration is limited to institutional funding and does not extend to retail-facing crypto services.
Klarna has also clarified that this funding effort is separate from its consumer and merchant-focused crypto and stablecoin activities. Those initiatives are expected to progress on a different timeline, with further developments planned for 2026.
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