Klarna seeks U.S. bank charter in latest push beyond buy now, pay later - CNBC
Fintech firm Klarna has applied for a U.S. banking charter in Utah to transition from a 'buy now, pay later' provider to a full-service consumer bank. This move aims to reduce reliance on third-party banking partners and lower funding costs.
Why it matters
This reflects a broader trend of fintech companies seeking regulatory independence to compete directly with traditional financial institutions.
Klarna , the Swedish fintech firm best known for its buy now, pay later offerings, said Monday it applied to federal and state regulators to establish a U.S. bank subsidiary .
Business reporting focused on corporate strategy and market trends.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in