Swedish fintech giant Klarna partnered with Coinbase to secure institutional funding. Klarna utilizes Coinbase infrastructure and the stablecoin USDC for this purpose. This arrangement allows Klarna to raise short-term funding from institutional investors, denominated in USDC.
The USDC channel adds a crypto-native source to Klarna’s existing funding streams, which include consumer deposits and debt. Klarna CFO Niclas Neglén stated the initiative connects the company to a new class of institutional investors. This move diversifies Klarna's overall funding capabilities.
The collaboration bridges traditional finance and the crypto economy. For Coinbase, the deal represents a key win for its institutional services. It showcases the utility of the Coinbase platform and the USDC stablecoin for large-scale corporate finance.