Klarna applies for a U.S. banking license and plans to establish a banking subsidiary

According to CNBC, Klarna has submitted applications to federal and state regulators in the United States, planning to establish Klarna Bank USA, a bank subsidiary covered by FDIC insurance in Utah, to provide lending, deposit, and financial services. At the end of last year, Klarna launched the stablecoin KlarnaUSD and partnered with Stripe's platform Privy to develop a crypto wallet aimed at mainstream users.