Klarna Explores Crypto to Keep Up with PayPal, But Neither Offer the Best Crypto Wallet

Swedish payment giant Klarna plans to integrate crypto. The ‘last fintech in the world to embrace it,’ according to Klarna CEO Sebastian Siemiatkowski.

While Siemiatkowski expected his post to ‘get a huge sign and two views,’ the community found it big news.

Why did Klarna delay this moment for so long, and what crypto services could it offer?

Let’s zoom in.

Buy Now, Pay Later… in Crypto? Klarna Explores Crypto Services

If the name ‘Klarna’ doesn’t ring the bell, how about ‘shop now, pay later’?

Klarnas’s flexible payment system attracted over 85M users and 575K retailers globally.

But while competitors like Revolut and PayPal were actively exploring crypto (PayPal even launched its own stablecoin), Siemiatkowski considered Bitcoin a ‘decentralized Ponzi scheme.’

He also pointed out that crypto gas fees are sometimes worth more than the transaction – and while it’s true for Ethereum, Siemiatkowski evidently ignored all low-cost networks like XRP and Sui.

In Siemiatkowski’s defense, he admitted he had no idea how blockchain and mining work in 2021.

However, a lot can change in four years, and Klarna now wants to enter the crypto scene.

Siemiatkowski didn’t share any details, so we can only guess whether Klarna will enable flexible crypto payments or offer an entirely different service.

The entrepreneur also encouraged his followers to share their ideas. Some that received the most engagement were to:

• Process transactions through Hedera Hashgraph, Solana, or XRPL
• Settle transactions in stablecoins
• Issue cashback in $BTC
• Buy crypto and pay later (we wish)

We’ve yet to see if Klarna adopts any of these suggestions.

Beyond Basics: Why Best Wallet Outshines Traditional Fintech Apps

Fintechs like PayPal and Revolut may offer crypto services, but they mostly appeal to those only dipping their toes into digital assets.

For example, you can trade crypto with Revolut, but you can’t stake, buy new presale tokens, or store NFTs. It’s like a watered-down version of an advanced crypto trading platform, such as Best Wallet.

Best Wallet is, first and foremost, a secure storage solution. But beyond HODLing your assets and managing multiple wallets, it lets you swap, stake, track, and compare tokens across multiple chains.

On top of that, Best Wallet is the first and only app that lets you directly invest in hot presales. There’s no need to search for fresh tokens manually – Best Wallet presents a wide range of strictly vetoed projects in one user-friendly interface.

The ecosystem’s native token, $BEST, now costs $0.02395 on presale. Its holders enjoy lower trading fees, higher stalking yields, and governance rights.

Just one day remains until the next price uptick, so this is the last chance to secure your share of tokens at such a discount.

Adapt or Fall Behind? The Fintech Industry’s Reality Check

Klarna’s pivot proves that no fintech can ignore the growing demand for crypto. Even the most stubborn heads are forced to adapt to changing consumer needs and adopt blockchain technology.

However, traditional fintechs have a hard time competing with crypto-first platforms like Best Wallet, which offer specialized features like crypto presale aggregator and staking. This unique functionality may help Best Wallet achieve its goal of capturing 40% of the market by 2026.

Meanwhile, we remind you to DYOR before participating in any crypto project. The market is extremely volatile, and no gains are guaranteed.