Klarna Bank AB, a popular Swedish fintech company in Europe, is set to accept cryptocurrency on its platform, announced by its CEO Sebastian Siemiatkowsky in a post on the weekend.
“I’m giving up. Klarna and Me accept the code! He wrote to 33,000 followers on the app.
Klarna is a popular “Buy Now, Pay Later” app that is mainly used in Europe. According to Investopedia, the platform is valued at $14.8 billion, with over 85 million users and a volume of 100 billion, Siemiatkowski said.
The company has been around since 2005 and was supported in 2010 by Sequoia Capital, a well-known venture capitalist behind many fintech and crypto-focused companies. In code.
Sequoia, which owns a 22% stake in Klarna, also supports Avalanche, Fireblocks, Stripe and Crypto Exchange Edx Markets, among others.
Many other fintech companies have long adopted Crypto on platforms such as Robinhood, Venmo and Revolut. For example, the latter two have long allowed users to buy, sell and hold certain cryptocurrencies in their apps.
“I still feel that it’s historic,” writes Siemiatkovsky. “To embrace that, the world’s last big fintech. Someone had to be the last.”
Siemiatkowski did not specify how Klarna would accurately incorporate cryptocurrencies into its business model. One user suggested the option to “buy crypto and pay later.” This replied that Siemiatkowski replied, “Probably not.” Today, he said it may take some time to plan while the company considers all the options.