Klarna Bank Ab, a Swedish company that is famous in Europe, is planning to embrace cryptocurrencies on its platform, the chief executive officer of the company, Sebastian Siemiatkowski announced in an X post on the weekend.
“I give up. Klarna and I will embrace the crypto! More will come,” she write in his 33,000 app followers.
Klarna is a popular “buy now, pay later” mainly used in Europe. The platform, which costs $ 14.8 billion according to Investiahas over 85 million users and 100 billion volume, Siemiatkowski said.
The company has been since 2005 and has received a backyard of sequoia capital, a prominent venture capitalist behind many FinTech and Crypto companies, in 2010. SiemiatKowski Says He was introduced to three entrepreneurs of an investment analyst in VC who convinced him to enter crypto.
Sequoia, holding a 22% Klarna stake, also supports avalanche, fireblocks, stripes, and crypto exchange EDX markets, among others.
Many other fintech firms have long been included in crypto on their platforms, such as Robinhood, Venmo or Revolut. The last two, for example, have long been allowed for users to buy, sell and hold some cryptocurrencies in the app.
“It still feels historic,” Siemiatkowski wrote. “Last big fintech in the world to embrace it. Something should be late.”
Siemiatkowski did not specify how Klarna exactly included cryptocurrencies in her business model. A user has suggested a “buy a crypto, pay later” choice, which Siemiatkowski responds to saying “maybe not.” Earlier today, he said as the company would look at all the options, it could take some time for it to have a plan in place.
