Digital bank Klarna launches stablecoin amidst rising crypto adoption
Klarna Bank AB, a global digital bank and payments provider, today launched KlarnaUSD, the company’s first stablecoin.
Stablecoins are a type of cryptocurrency that pin their token value to traditional currency, in this case, U.S. dollars, so that individual tokens remain $1. Unlike cryptocurrencies such as Bitcoin, stablecoins remain “stable” in value and due to this lack of volatility, which makes them ideal for commerce and financial transactions.
“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,” said Sebastian Siemiatkowski, co-founder and chief executive of Klarna.
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