A Swedish digital payments and banking firm, Klarna, has agreed to work with Coinbase
$813.08M
to secure short‑term financing in USDC
from institutional backers.
This approach combines existing assets, such as client deposits and long‑term loans, with short-term instruments, such as commercial paper. Details of the project were shared in a statement released on December 19.
The initiative is still in progress, and merchant-focused projects are planned for development in 2026. The company chose to focus on its history in helping more than 260 companies worldwide with short-term transactions and crypto-related financial tools.
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The firm’s Chief Financial Officer, Niclas Neglén, noted that stablecoin introduces a new set of institutional investors, which enables the company to diversify its funding channels in ways previously unavailable.
The stablecoin funding option is being crafted from other digital asset and crypto plans meant for merchant and personal users. The company said that success with this setup could depend on regulations, shifting markets, or operational challenges.
The company previously launched its own US dollar-pegged stablecoin in November. Termed KlarnaUSD, this token is currently running on the Tempo blockchain’s test network and is scheduled for release on the network next year.
Bridge, a stablecoin technology provider tied to Stripe, developed the token as part of ongoing work between the payments firm and Stripe.
Ripple recently partnered with Switzerland’s AMINA Bank to bring fiat-to-stablecoin payments into Europe’s regulated financial system. What did the companies say? Read the full story.
