Swedish fintech Klarna has partnered with Privy, the wallet infrastructure platform backed by Stripe, to co-design potential wallet solutions to power a new generation of crypto products for Klarna users.

The agreement follows Klarna’s recent launch of its own stablecoin, KlarnaUSD. The company is now exploring building a wallet to make it easier for people to use, store, and transact with crypto, lowering the barrier for mainstream adoption.

“Millions already trust Klarna to help them manage everyday spending, saving and shopping. That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters,” said Sebastian Siemiatkowski, CEO and co-founder of Klarna.

“The technology has matured, and with Privy we plan to build products that feel as intuitive as any other Klarna feature. This is how mainstream adoption happens: simple, safe, and part of daily life,” Siemiatkowski added.

Privy powers over 100 million accounts for more than 1,500 developers today, including crypto-native platforms like OpenSea and Hyperliquid, and helps users orchestrate billions in crypto and stablecoin movements every month.

This new partnership with Klarna enables its users to hold a wide variety of digital assets anywhere in the world, invest safely, and trade and transact with friends more easily.

“We’re proud to partner with world-class fintechs like Klarna, providing the secure, enterprise-ready infrastructure they need,” said Henri Stern, CEO and co-founder of Privy. “Privy aims to be the backbone for any business that wants to harness the exciting capabilities crypto and stablecoins offer.”