Swedish Payments Giant Klarna will Look to Incorporate Cryptocurrencies

TL;DR

• European payments giant Klarna has revealed that it will look for ways to incorporate cryptocurrencies. 

• Sequoia Capital currently holds a 22% stake in the “buy now, pay later” company.

Klarna will Work to Integrate Cryptos

Klarna Bank AB, a Swedish fintech company popular in Europe, has announced plans to integrate cryptocurrencies on its platform. The company’s CEO, Sebastian Siemiatkowski, announced this latest development in a post on X over the weekend.

Ok. I give up. Klarna and me will embrace crypto! More to come

Yes I know! This post will get a huge sigh and 2 views 😂

But it still feels historic. Last large fintech in the world to embrace it. Someone had to be last. And that’s a milestone as well of some sort… 🥳

— Sebastian Siemiatkowski (@klarnaseb) February 8, 2025

Klarna is a leading “buy now, pay later” app primarily used in Europe and is currently valued at $14.8 billion. According to the CEO, the platform has over 85 million users and 100 billion of volume.

Klarna was launched in 2005, with Sequoia Capital, a prominent venture capitalist behind many fintech and crypto-focused companies, holding a 22% stake. The venture capital firm has invested in major crypto projects like Avalanche, Fireblocks, Stripe, and crypto exchange EDX Markets, 

Siemiatkowski revealed that an investment analyst at Sequoia Capital introduced him to three entrepreneurs and convinced him to invest in crypto.

Klarna wouldn’t be the first major fintech platform to integrate cryptocurrencies. Robinhood, Venmo, and Revolut offer their users cryptocurrency services, enabling easy crypto transactions.

Siemiatkowski did not discuss how Klarna would integrate cryptocurrencies into its business model. He pointed out that while Klarna will explore the available options, it might take some time for the company’s plans to come to fruition.