Klarna, the global digital bank and flexible payments provider, has signed a research partnership with Privy, the leading wallet infrastructure platform and a Stripe company, to explore, research and co-design potential wallet solutions to power a new generation of crypto products for Klarna users.

The agreement follows Klarna's recent launch of its own stablecoin, KlarnaUSD, in partnership with Tempo and Bridge. Now, the company is exploring building a wallet to make it easier for everyday people to actually use, store, and transact with crypto, lowering the barrier for mainstream adoption.

“Millions already trust Klarna to help them manage everyday spending, saving and shopping. That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters. The technology has matured, and with Privy we plan to build products that feel as intuitive as any other Klarna feature. This is how mainstream adoption happens: simple, safe, and part of daily life,” said Sebastian Siemiatkowski, CEO and co-founder of Klarna.

Venture capital firm a16z estimates that 716 million consumers hold cryptocurrencies worldwide and 40 - 70 million transact with crypto currency each month, a figure that is growing at 10 million a year.

Privy powers over 100 million accounts for 1,500+ developers today, including crypto-native platforms like OpenSea and Hyperliquid, and helps users orchestrate billions in crypto and stablecoin movements every month. This new partnership with Klarna enables every Klarna user to hold a wide variety of digital assets anywhere in the world, invest safely, and more easily trade and transact with friends.

“We’re proud to partner with world-class fintechs like Klarna, providing the secure, enterprise-ready infrastructure they need,” said Henri Stern, CEO and co-founder of Privy. “Privy aims to be the backbone for any business that wants to harness the exciting capabilities crypto and stablecoins offer.”

In addition to this announcement, we are looking forward to our next announcement in a week or so. More to come.

The partnership represents a research and development initiative as Klarna explores the potential of digital asset infrastructure. Any future product launches would be subject to obtaining necessary regulatory approvals and licenses in applicable jurisdictions.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding our future financial performance, business strategy, growth objectives, market opportunities, operational plans, including the implementation of stablecoin, a crypto wallet, or other crypto offerings, the timing of their availability to our consumers and their anticipated features and benefits. Words such as "believe," "expect," "anticipate," "intend," "plan," "will," "may," "could," "estimate," and similar expressions identify forward-looking statements.

These forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed or implied, including risks related to:

• Our ability to retain and grow consumer and merchant relationships;
• Competition and technological developments;
• Regulatory compliance and licensing requirements;
• Our ability to achieve expected benefits from our funding arrangements;
• Credit risk management and funding availability;
• General economic conditions and market volatility; and
• Our ability to expand into new markets and products.

Forward-looking statements reflect our views as of the date of this release and are based on information currently available to us. We undertake no obligation to update any forward-looking statements, except as required by law. Actual results may differ materially from those anticipated. Investors should not place undue reliance on these forward-looking statements and should review the risk factors in our filings with the SEC for a more complete discussion of risks.

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