Klarna applies for banking licence in US

Satarupa Bhowmik

Tue, July 7, 2026 astatine 5:59 AM CDT 1 min read

Klarna has applied for a US banking licence, filing applications with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC).

The Swedish buy-now-pay-later (BNPL) outfit is seeking support to motorboat Klarna Bank USA arsenic a Utah-chartered concern bank.

If approved, Klarna Bank USA would beryllium a wholly owned subsidiary of Klarna. It would beryllium insured by the FDIC.

The projected slope would person its ain autarkic board, governance and interior controls.

The licence would let Klarna to bring its existing banking operations in-house.

Klarna has held a banking licence successful Europe since 2017 and presently serves US customers done spouse banks.

The fintech steadfast said it would enactment intimately with regulators during the exertion process.

Klarna co-founder and CEO Sebastian Siemiatkowski said: "We've seen firsthand the appetite for a fairer, much transparent attack successful the U.S., and our ain banking licence is the earthy adjacent step, giving customers tools to get responsibly and physique fiscal confidence, portion bringing greater competition, innovation, and prime to consumers and merchants alike."

Klarna has named Gary Harding arsenic the president and CEO of Klarna Bank USA.

Harding was formerly the president and CEO of Milestone Bank, and president and CEO of Prime Alliance Bank.

Klarna said that since 2019 it has provided Americans with entree to much than $91.3bn successful liable credit, portion helping them prevention much than $5.1bn successful involvement compared with revolving recognition paper debt.

It added 30 cardinal Americans usage its services each twelvemonth and that hundreds of thousands of merchants trust connected its platform.

"Klarna applies for banking licence successful US" was primitively created and published by Retail Banker International, a GlobalData owned brand.