Swedish payment giant Klarna applies for a U.S. banking license

According to CNBC, Swedish payment giant Klarna has submitted applications to federal and state regulators in the United States, planning to establish a bank subsidiary "Klarna Bank USA" in Utah, which will be covered by FDIC insurance, allowing Klarna to conduct loans, deposits, and a wider range of financial services through its own banking system. Klarna launched the stablecoin KlarnaUSD at the end of last year and is reportedly collaborating with Stripe's wallet infrastructure platform Privy to jointly develop a cryptocurrency wallet aimed at mainstream users.