The CEO of Klarna asked the cryptocurrency community to contribute ideas for incorporating digital assets into the company’s ecosystem.
Ahead of its impending public listing, Swedish payments company Klarna is preparing to enter the cryptocurrency industry.
Despite being one of the last significant fintech companies to enter the digital asset market, CEO Sebastian Siemiatkowski declared on Sunday that the company would “embrace crypto.” He called the action a significant turning point in Klarna’s growth plan.
Additionally, Siemiatkowski contacted the cryptocurrency community to solicit ideas on incorporating cryptocurrency into its ecosystem. He mentioned the company’s size, stating that it has issued over one million cards, supports over 500 million merchants, processes $100 billion in transaction volume, and serves 85 million users globally.
The CEO mentioned that many people considered complete compliance a significant benefit. He noted that this represents a change in viewpoint compared to a few years ago.
Growing Payments Ecosystem with Crypto Goals
Best known for its “Buy Now, Pay Later” (BNPL) services, Klarna allows customers to defer payments immediately without incurring interest.
In addition to BNPL, the company offers a variety of online payment options, such as pay-after-delivery choices, installment plans, and direct payments. The company also provides banking, lending, and payment processing services to facilitate more flexible transactions between retailers and customers.
By incorporating Bitcoin payment alternatives, Klarna might reach a tech-savvy audience already interested in digital assets. By taking this action, it can increase its user base and establish itself as a leader in fintech innovation.
klarna’s Crypto Adventure and IPO Plans Shape Its Future
Prior forays into Bitcoin are part of Klarna’s history of adopting innovative financial solutions. To incorporate its open banking services into cryptocurrency trading, the business teamed up with Swedish crypto broker Safello in 2021. Through this partnership, consumers could purchase cryptocurrencies straight from their bank accounts, which was Klarna’s first foray into digital assets.
The US SEC received Klarna’s November IPO filing, but the business has not disclosed the exchange location or listing date yet.
The Financial Times claims that the company is looking for an April IPO with a $15 billion value marginally higher than the $14.6 billion estimate that Bloomberg published. If it goes through, this would be one of the biggest fintech public offerings in recent memory, establishing itself as a significant force in the rapidly changing digital payments industry.
The fintech company has been coping with internal leadership conflicts.
According to a Sifted article, a widening gap exists between co-founder Victor Jacobsson and CEO Siemiatkowski. Mikael Walther, a close supporter of Jacobsson, was removed from the board after a vote from Klarna’s shareholders the previous year. The action added another difficulty level to the company’s IPO aspirations by hinting at possible power changes within senior management.
