Klarna partners with Privy to explore consumer crypto wallets

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Yaroslav Dmytrenko

11.12.2025

Klarna partners with Privy to explore consumer crypto wallets — Klarna deepens crypto push with new Privy research project

Swedish payments giant Klarna is diving deeper into the world of cryptocurrencies. The fintech company’s new research initiative includes a collaboration with Privy to explore what a crypto wallet designed for everyday users—rather than traditional crypto enthusiasts—might look like.

Following the recent launch of its own stablecoin, KlarnaUSD, in partnership with Tempo and Bridge, the new project focuses on evaluating whether consumer-focused crypto wallets could make digital assets a more natural extension of Klarna’s existing payments network.

According to Klarna CEO Sebastian Siemiatkowski, the company’s advantage lies in its strong relationship with consumers. He noted that Klarna already manages shopping tools, budgeting features, and savings functions for millions of users, enabling it to “turn cryptocurrency into something useful for everyday customers.”

The company is supported in this effort by infrastructure developer Privy, which powers more than 100 million accounts and processes billions of dollars in cryptocurrency and stablecoins.

Privy CEO Henri Stern described the collaboration as an effort to provide foundational components for businesses wanting to integrate “cryptocurrency and stablecoin capabilities” without forcing users to navigate complex Web3 interfaces.

A turning point for innovation

The Klarna–Privy partnership aims to explore how this infrastructure could be adapted to the consumer fintech environment, where fund custody, regulatory compliance layers, and wallet simplicity must coexist.

The timing is favorable for Klarna’s experiment: according to a16z, around 716 million people worldwide own digital assets, and tens of millions conduct monthly transactions.

Seeking to reach a new segment of consumers, Klarna continues to expand its presence in traditional digital payments. Apple Pay support was recently extended to France and Italy, bringing the number of integrated markets to eight. The company also introduced new U.S. membership tiers—Premium and Max—offering benefits such as cashback and travel insurance.

Klarna is also expanding its partnerships with retail and travel companies. Canadian furniture brand Cozey now offers Klarna’s installment plans across North America, while Lufthansa, in collaboration with Adyen, plans to introduce “Pay Later” and other financing options for travelers this year, powered by Klarna.

Revenue growth is also continuing—Klarna reported a 45% increase in U.S. sales during the Black Friday shopping period, signaling ongoing momentum in its core business.

As we wrote, Fintech giant Klarna adopts crypto, joins market ahead of $15B IPO

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