Klarna Partners with Stripe-Owned Privy to Develop Crypto Wallet Aimed at Mainstream Adoption
Klarna is partnering with Privy, a Stripe-owned company, to develop a crypto wallet designed to provide Klarna users with access to a broad range of digital assets. The initiative targets mainstream adoption by simplifying cryptocurrency use for individuals without prior experience in buying, trading, or holding crypto.
Stripe, which acquired Privy in June, will supply the embedded wallet infrastructure that powers Klarna's new wallet. Klarna's dollar-backed stablecoin, KlarnaUSD, will be built using Bridge, a stablecoin platform that Stripe purchased for $1.1 billion last year, with plans to launch it on Tempo—a layer-1 blockchain for stablecoins and payments incubated by Stripe and Paradigm.
Privy's wallet technology is already integrated into existing crypto applications such as Hyperliquid and Pump.fun, showcasing its established deployment. Although no specific timeline for the Klarna wallet release has been provided, Klarna did not respond immediately to comment requests, and an additional announcement is expected next week.
