Klarna, the buy now pay later (BNPL) firm, plans to raise short term working capital from institutional investors denominated in USDC stablecoins, tapping into crypto institutions’ appetite for private credit investments.
The digital bank is partnering with Coinbase to access USDC funding alongside its traditional funding sources, which include consumer deposits, long term loans and commercial paper. The move enables Klarna to access dollar denominated funding directly through digitally native infrastructure.
Private credit has attracted interest from the crypto community because the sector carries enhanced returns compared to lower risk investments such as money market funds.
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