Klarna Bank AB, a Swedish fintech company, popular in Europe, plans to embrace cryptocurrencies on his platform, the company’s CEO, Sebastian Siemiatkowski, announced in a post of X this weekend.
“I give up. Klarna and me will embrace crypto! More to come, ”he wrote to his 33,000 followers on the app.
Klarna is a popular “buy now, pay later” app, which is primarily used in Europe. The platform, which is valued at $ 14.8 billion, according to Investopedia, has over 85 million users and 100 billion volume, Siemiatkowski said.
The company has been around since 2005 and received support from Sequoia Capital, a prominent venture capitalist behind many fintech and cryptophocused companies, in 2010. Siemiatkowski said he was introduced to three entrepreneurs by an investment analyst at VC who convinced him to get Krypto .
Sequoia, which has a 22% share of Klarna, also supports avalanche, fourblocks, stripe and crypto exchange EDX markets.
Many other fintech companies have long incorporated crypto into their platforms such as Robinhood, Venmo or Revolut. For example, the latter two have long allowed users to buy, sell and keep certain cryptocurrencies on the app.
“It still feels historic,” Siemiatkowski wrote. “Last big fintech in the world to embrace it. Someone had to be last. “
Siemiatkowski did not specify how exactly Klarna would incorporate cryptocurrencies into his business model. A user suggested a “Buy Crypto, Pay Later”, as Siemiatkowski responded to saying “probably not.” Earlier today, he said, while the company will look at all the possibilities, it may take some time before it has a plan in place.
