Klarna Files for US Banking License With FDIC, Utah Regulator

Klarna (KLAR) has submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance to establish Klarna Bank USA, a proposed Utah-chartered industrial bank, the company said Monday. The move is expected to bring the company's US banking operations in-house, strengthening its payments, credit, savings and merchant services offerings. If approved, Klarna Bank USA will be a wholly owned subsidiary of Klarna.