TLDR Tech / Fintech
Klarna seeks US bank charter in latest push beyond BNPL
Klarna applied to create an FDIC-insured US bank in Utah, a move that would let the company bring more of its lending, payments, deposits, and merchant services infrastructure in-house. The application reflects a broader fintech shift toward owning bank charters, as firms like Klarna and Mercury seek lower funding costs, less reliance on partner banks, and more control over customer financial products.
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