Digital Banking

Klarna applies for banking license

Photo: Adobe Stock

July 8, 2026

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Klarna, a digital bank and payments company, has submitted an application to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp. If approved, it would found Klarna Bank USA in Utah, according to a press release.

Klarna has been a licensed bank in Europe since 2017, and current provides more than $91.3 billion in credit to Americans. Klarna Bank USA would be a wholly owned subsidiary of Klarna Inc. and Gary Harding would serve as president and CEO.

"Banking is built on trust," Sebastian Siemiatkowski, co-founder and CEO of Klarna, said in the release. "We've seen firsthand the appetite for a fairer, more transparent approach in the U.S., and our own banking license is the natural next step, giving customers tools to borrow responsibly and build financial confidence, while bringing greater competition, innovation and choice to consumers and merchants alike."