Klarna applies for U.S. bank charter
Klarna banking subsidiary plans could expand U.S. lending, payments, and savings Get the latest on its Utah FDIC bid and what it means for fintech competition
Klarna said it has applied to U.S. federal and state regulators to create an FDICinsured banking subsidiary in Utah, marking a new step in its effort to expand beyond buy now, pay later.
If approved, the new entity, Klarna Bank USA, would allow the Swedish fintech to operate more of its lending, payments and merchant services directly rather than relying on partner banks. The proposed bank would be led by Gary Harding, a former bank CEO.
The filing reflects a broader trend among fintech firms that want to control more of their banking operations through their own charters. Klarna said the move would help it offer more traditional banking services and reduce dependence on thirdparty partners. The company went public in September 2025 and recently introduced U.S. highyield savings accounts through a partner bank.