Retail Banking Institute | Crypto Boy's IPO

Crypto Boy's IPO

Klarna looks set for an IPO in the US in April or May this year, according to reports. The buy now pay later specialist is 20 years in business, so it's been a long road to going public. Now all it has to do is avoid any catastrophic missteps for the next two or three months. On Saturday the weekend chief executive Sebastian Siemiatkowski tweeted that the business will finally embrace cryptocurrencies. That's normally the type of thing that would horrify an IPO PR team but times are changing. "OK I give up. Klarna and me will embrace crypto," he tweeted. (He x-ed still doesn't work, does it?) "Last large fintech in the world to embrace it. Someone had to be last. And that's a milestone as well of some sort." He celebrated by creating a crypto song called Crypto Boy on Sumo, the generative AI platform. We are not making this up – listen here. As it happens, the stars are aligning for Klarna. The fintech was among the businesses that set up the Financial Technology Association which is suing the CFPB, which decided last year that BNPL was a credit product and should be regulated. But it looks like that might not be necessary after all.