Klarna submitted applications to establish Klarna Bank USA as a Utah-chartered industrial bank. The company filed with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC). Klarna has operated under a European banking license since 2017. It currently serves 30 million U.S. customers through partner banks.
An approved charter would allow Klarna to operate as a direct, FDIC-insured bank. This status enables the company to hold customer deposits and manage payments, savings, and credit services in-house. The move supports Klarna’s strategy to expand financial offerings for consumers and merchants.
Veteran banking executive Gary Harding will lead the new entity as President and CEO.