Klarna (NYSE: KLAR) seeks Utah charter for Klarna Bank USA
Rhea-AI Filing Summary
Klarna Group plc has applied for a U.S. banking license by seeking approval to establish Klarna Bank USA, a proposed Utah-chartered industrial bank and wholly owned subsidiary of Klarna Inc. The company submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation.
Klarna already operates as a licensed bank in Europe and serves U.S. customers via partner banks. Since 2019, it has provided Americans access to over $91.3 billion in credit, with more than $5.1 billion in interest savings versus revolving credit card debt. About 30 million Americans use Klarna annually, and more than one million retailers rely on its services.
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Insights
Klarna is pursuing a U.S. industrial bank charter to bring more banking functions in-house.
Klarna has submitted applications to the Utah Department of Financial Institutions and the FDIC to create Klarna Bank USA, a Utah-chartered industrial bank and wholly owned subsidiary of Klarna Inc. This would shift U.S. operations from partner banks toward an in-house banking platform.
If approved, Klarna Bank USA would have its own independent board, governance, and internal controls and be FDIC-insured. The company states the charter would let it consolidate payments, savings, credit, and merchant services in one regulated entity, potentially supporting more integrated product offerings.
The application still requires regulatory review and approval, and the timing and outcome are not indicated. Future disclosures may clarify whether the charter is granted and how quickly Klarna transitions U.S. services into the new bank structure.
Key Figures
Credit provided to Americans: $91.3 billion
Interest savings for Americans: $5.1 billion
U.S. annual users: 30 million Americans
+3 more
6 metrics
Credit provided to Americans
$91.3 billion
Access to credit since 2019
Interest savings for Americans
$5.1 billion
Savings versus revolving credit card debt since 2019
U.S. annual users
30 million Americans
Consumers using Klarna each year
Global active users
119 million
Global active Klarna users
Daily transactions
3.4 million
Transactions per day on Klarna’s network
Retail partners
More than one million
Retailers using Klarna’s solutions
Key Terms
Utah-chartered industrial bank, Federal Deposit Insurance Corporation (FDIC), independent board, governance, and internal controls, forward-looking statements, +1 more
5 terms
Utah-chartered industrial bank financial
"to establish Klarna Bank USA, a proposed Utah-chartered industrial bank"
Federal Deposit Insurance Corporation (FDIC) regulatory
"applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC)"
A federal agency that protects bank depositors by insuring eligible checking and savings accounts up to a set limit, acting like a safety net for people’s cash if a bank fails. It matters to investors because that guarantee supports public confidence in the banking system, lowers the chance of sudden runs on banks, and influences the risk profile and stock value of banks and financial firms.
independent board, governance, and internal controls regulatory
"with its own independent board, governance, and internal controls"
forward-looking statements regulatory
"This press release contains forward-looking statements within the meaning of applicable securities laws."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
industrial bank financial
"a proposed Utah-chartered industrial bank"
A type of deposit-taking financial institution that makes loans and accepts insured deposits while often being allowed to be owned by non‑bank commercial firms; in some jurisdictions these are called industrial loan companies. They operate under bank supervision but can have narrower powers or different rules than full commercial banks, so their ownership structure and regulatory setup can affect their risk profile and the way they interact with other businesses — like a neighborhood bank owned by a retail company rather than a traditional bank holding company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Klarna (KLAR) announce in its latest Form 6-K?
Klarna announced it has submitted applications to the Utah Department of Financial Institutions and the FDIC to establish Klarna Bank USA, a Utah-chartered industrial bank. This proposed bank would be a wholly owned subsidiary of Klarna Inc. if regulators approve the charter.
What is Klarna Bank USA and how would it be structured?
Klarna Bank USA is a proposed Utah-chartered industrial bank that would be insured by the FDIC. It would be a wholly owned subsidiary of Klarna Inc., with its own independent board, governance framework, and internal controls to support payments, savings, credit, and merchant services.
How many U.S. consumers and merchants currently use Klarna services?
Klarna reports that about 30 million Americans use its services each year, while hundreds of thousands of U.S. merchants rely on Klarna to grow their businesses. Globally, more than one million retailers partner with Klarna for payments and commerce solutions.
How much credit has Klarna provided to Americans since 2019?
Since 2019, Klarna has provided Americans with access to over $91.3 billion in what it describes as responsible credit. The company states this has saved U.S. consumers more than $5.1 billion in interest when compared with revolving credit card debt over that period.
Who has been chosen to lead Klarna Bank USA if it is approved?
Gary Harding has been selected to serve as President and CEO of Klarna Bank USA if the charter is approved. Klarna notes he has held C-suite roles in the U.S. financial sector, including Chairman and CEO of Milestone Bank and President and CEO of Prime Alliance Bank.
Does Klarna already operate as a bank outside the United States?
Yes. Klarna has operated as a licensed bank in Europe since 2017, offering payment and banking services there. In the United States, it currently serves customers through partner banks, and the proposed Klarna Bank USA would bring more of those banking activities in-house.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2026
Commission File Number: 001-42832
Klarna Group plc
(Translation of Registrant’s Name into English)
10 York Road
London SE1 7ND
United Kingdom
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes o No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes o No x
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
On July 6, 2026, Klarna Group plc issued a press release announcing that it has submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to establish Klarna Bank USA, a proposed Utah-chartered industrial bank and wholly owned subsidiary of Klarna Inc.. A copy of this press release is attached as Exhibit 99.1 to this Report on Form 6-K and furnished to the Securities and Exchange Commission.
The information contained in this report on Form 6-K, including Exhibits 99.1, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless expressly set forth by specific reference in such a filing.
EXHIBITS
The following exhibits are attached:
| Exhibit No. | Description | |||||||
| 99.1 | Press Release | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
KLARNA GROUP PLC | ||||||||
Date: July 06, 2026 | By: | /s/ Niclas Neglen | ||||||
Name: Niclas Neglen Title: Chief Financial Officer | ||||||||
Klarna submits application for U.S. banking license New York, July 6, 2026 – Klarna (NYSE: KLAR), the global digital bank and flexible payments provider, today announced it has submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) to establish Klarna Bank USA, a proposed Utah-chartered industrial bank. Klarna has operated as a licensed bank in Europe since 2017 and serves U.S. customers through valued partner banks. Since 2019, Klarna has provided Americans with access to over $91.3 billion in responsible credit, saving them more than $5.1 billion in interest compared to revolving credit card debt. Today, 30 million Americans use Klarna each year, and hundreds of thousands of merchants rely on Klarna to grow their businesses. "Banking is built on trust," said Sebastian Siemiatkowski, co-founder and CEO of Klarna. "We've seen firsthand the appetite for a fairer, more transparent approach in the U.S., and our own banking license is the natural next step, giving customers tools to borrow responsibly and build financial confidence, while bringing greater competition, innovation, and choice to consumers and merchants alike." If approved, Klarna Bank USA would be a wholly owned subsidiary of Klarna Inc., chartered in Utah and insured by the FDIC, with its own independent board, governance, and internal controls. The charter would let Klarna bring its existing banking operations in-house, strengthening reliability across payments, savings, credit, and merchant services, and supporting sustainable growth. For consumers, the result is a different kind of bank: transparent, safe, and free of hidden fees, with digital tools and traditional banking products in one place. Gary Harding has been selected to serve as President and CEO of Klarna Bank USA. Harding brings over a decade of C-suite leadership across the U.S. financial sector, having served as Chairman and CEO of Milestone Bank, and President and CEO of Prime Alliance Bank. Klarna will work closely with regulators throughout the application process, consistent with its longstanding commitment to regulatory engagement, to deliver a modern, transparent banking experience for Americans. Forward-looking statements This press release contains forward-looking statements within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding our future financial performance, business strategy, growth objectives and market opportunities. Words such as "believe," "expect," "anticipate," "intend," "plan," "will," "may," "could," "estimate," and similar expressions identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed or implied. Forward-looking statements reflect our views as of the date of this release and are based on information currently available to us. We undertake no obligation to update any forward-looking statements, except as required by law. Actual results may differ materially from those anticipated. Investors should not place undue reliance on these forward-looking statements and should review the risk factors in our filings with the SEC for a more complete discussion of risks. About Klarna
Klarna is a global digital bank and flexible payments provider. With over 119 million global active Klarna users and 3.4 million transactions per day, Klarna’s AI-powered payments and commerce network is empowering people to pay smarter with a mission to be available everywhere for everything. Consumers can pay with Klarna online, in-store and through Apple Pay & Google Pay. More than one million retailers trust Klarna’s innovative solutions to drive growth and loyalty, including Uber, H&M, Saks, Sephora, Macy’s, Ikea, Expedia Group, Nike and Airbnb. Klarna is listed on the New York Stock Exchange (NYSE: KLAR). For more information, visit Klarna.com.