Klarna Partners With Privy to Explore Crypto Wallet Infrastructure

Klarna has signed a research partnership with Privy, a wallet infrastructure platform and Stripe company, to explore and co-design potential wallet solutions for a new generation of crypto products. The agreement follows Klarna’s recent launch of its own stablecoin, KlarnaUSD, developed in partnership with Tempo and Bridge.

Klarna Eyes Wallet to Drive Mainstream Crypto Adoption

The company is now researching the development of a crypto wallet designed to make it easier for everyday users to store, use, and transact with digital assets. Klarna said the goal is to significantly lower the barriers to mainstream crypto adoption by building tools that feel familiar and intuitive to non-technical users.

Klarna Sees Opportunity Beyond Early Adopters

Klarna CEO and co-founder Sebastian Siemiatkowski said the company’s platform already helps people manage daily spending, saving, and shopping. This position allows Klarna to integrate crypto into the financial lives of ordinary users rather than limiting adoption to early adopters.

Technology Maturity Enables User-Friendly Crypto Products

Klarna stated that crypto technology has now reached a level of maturity that makes consumer-friendly products viable. Working with Privy, the company plans to build crypto experiences that feel as seamless and intuitive as existing Klarna features.

Global Crypto Usage Continues to Expand

Venture capital firm Andreessen Horowitz estimates that 716 million people worldwide hold cryptocurrencies, with 40 to 70 million users transacting monthly. That number is reportedly growing by around 10 million users each year, highlighting increasing global demand for accessible crypto tools.

Privy Brings Large-Scale Wallet Infrastructure

Privy currently supports more than 100 million accounts for over 1,500 developers, including crypto-native platforms such as OpenSea and Hyperliquid. The company facilitates billions of dollars in crypto and stablecoin transactions each month through its infrastructure.

Partnership Could Enable Crypto Access for Klarna Users Worldwide

Through the partnership, Klarna users could eventually gain the ability to hold a wide range of digital assets globally, invest more safely, and transact more easily with friends, according to the companies.

Privy Positions Itself as Enterprise Crypto Backbone

Privy CEO and co-founder Henri Stern said the company is focused on supporting world-class fintechs by providing secure, enterprise-ready crypto infrastructure. He added that Privy aims to serve as the backbone for businesses looking to leverage crypto and stablecoins at scale.

Research Initiative Comes Ahead of Further Announcements

The collaboration is currently structured as a research and development initiative, with Klarna evaluating the broader potential of digital asset infrastructure. The companies indicated that additional announcements may follow in the coming weeks.

Regulatory Approval Required for Any Future Launch

Klarna noted that any future crypto product launches resulting from this partnership would be subject to obtaining the necessary regulatory approvals and licenses in relevant jurisdictions.