Key Highlights
- Klarna has announced the launch of its own stablecoin, KlarnaUSD, becoming the first bank to launch a stablecoin on Tempo
- The official launch of the stablecoin is expected to go live on Tempo Network’s mainnet in 2026.
- After the GENIUS Act became a law, many financial institutions and banks are preparing to launch their own stablecoins
On November 25, Klarna, a leading digital bank and flexible payments provider, announced the launch of its own stablecoin, ‘KlarnaUSD.’
Introducing KlarnaUSD, our first @Stablecoin.
We’re the first bank to launch on @tempo, the payments blockchain by @stripe and @paradigm.
With stablecoin transactions already at $27T a year, we’re bringing faster, cheaper cross-border payments to our 114M customers.
Crypto is…
— Klarna (@Klarna) November 25, 2025
Klarna Joins the New Trend of Stablecoin Launch
The new stablecoin, named KlarnaUSD, is being developed using a specialized platform called Open Issuance by Bridge, which is a leading stablecoin infrastructure platform and a Stripe company. The official launch of the stablecoin is expected to go live on Tempo Network’s mainnet in 2026.
As regulations around digital assets become clearer, many financial institutions and banks have rushed to launch their own stablecoin in recent months.
For example, after the approval of the GENIUS Act, which U.S. President Donald Trump signed into law, the new trend of USD-pegged stablecoin has started, where major banks, payment service providers, and financial entities have started launching their own stablecoins.
At present, the cumulative market capitalization of stablecoin revolves around $313.80 billion, thanks to impressive growth in the major stablecoins like USDT, USDC, etc. According to McKinsey’s July report, the stablecoin transaction has now reached $27 trillion a year and is rapidly heading in the direction of overtaking legacy payment networks before the decade is out.
“With 114 million customers and $112 billion in annual GMV, Klarna has the scale to change payments globally: with Klarna’s scale and Tempo’s infrastructure, we can challenge old networks and make payments faster and cheaper for everyone,” Sebastian Siemiatkowski, co-founder and CEO of Klarna, said. “Crypto is finally at a stage where it is fast, low-cost, secure, and built for scale. This is the beginning of Klarna in crypto, and I’m excited to work with Stripe and Tempo to continue to shape the future of payments.”
With the launch, Klarna will get the title of becoming the first banking institution to issue a stablecoin on a new blockchain network known as Tempo. It is a new independent blockchain by the financial giants, including Stripe and Paradigm.
This launch will place the banking firm directly into a high-stakes market, where cross-border payments are responsible for an estimated $120 billion in transaction fees every year.
At the same time, the asset is already operational on a private testnet, which is not accessible to the general public. This early phase provides Klarna with a critical period to test the system, develop prototypes, and ensure easy integration with its services.
Stablecoin Market Sees Major Growth Phase after GENIUS Act Approval
In 2025, the stablecoin market will witness a boom, where one after another, many entities are launching their own stablecoins.
Just a day ago, Cross River Bank announced the launch of stablecoin payments. “We’re building the future of finance,” Gilles Gade, Founder, President, and CEO of Cross River, stated in the press release. “We’re taking blockchain beyond payments and settlement, reimagining every corner of banking—from BaaS to lending—to deliver a faster, more connected financial world grounded in safety and trust.”
Similarly, a global neobank, Revolut, has announced the closing of a funding round ahead of its potential stablecoin launch. Nik Storonsky, CEO & Co-founder of Revolut, said that “This milestone reflects the remarkable progress we have made in the last twelve months towards our vision of building the first truly global bank, serving 100 million customers across 100 countries.”
Apart from this, at least 8 major banks, including JPMorgan Chase, Bank of America, and Zelle’s seven-bank consortium, are preparing for 2025 launches. The main focus of this launch includes targeting cross-border payments and tokenized deposits.
Over 12 companies, such as PayPal, Fiserv, Mastercard, Visa, Walmart, Amazon, Circle, and Ethena, plan issuances for retail and DeFi integration.
