Swedish payment giant Klarna applies for US banking license

TechFlow news, July 06, according to CNBC reports, Swedish payment giant Klarna has submitted an application to US federal and state regulators, planning to establish an FDIC-insured bank subsidiary "Klarna Bank USA" in Utah, thereby enabling Klarna to conduct loans, deposits, and broader financial services through its own banking system. Klarna launched the stablecoin KlarnaUSD at the end of last year, and reportedly is also collaborating with Stripe's wallet infrastructure platform Privy to co-develop a crypto wallet aimed at mainstream users.