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Last updated: 2026-07-06 13:02:11 ET
Pulse AI Brief
Updated Jul 6, 2026 11:03 AM ET
Swedish fintech Klarna is seeking a U.S. bank charter, joining a wave of fintech and crypto firms attempting to enter the traditional banking system. The move signals Klarna's ambition to move beyond buy-now-pay-later into core banking services and deposit-taking.
A successful charter would reduce Klarna's reliance on third-party bank partnerships and improve unit economics by capturing deposit spreads. It also signals confidence in the regulatory environment under Trump, who has signaled openness to fintech banking. Competitors like Affirm and Upstart will face pressure to follow.
The charter push reflects BNPL's maturation from a lending model into a financial services platform play. Success would blur lines between fintech and traditional banking, forcing incumbent banks to compete on speed and user experience.
Of the 10 on board, three survivors were rescued by a couple on a sailboat, while a fourth was rescued by search crews. Six are still missing.
Shares of other telecoms are falling, as SpaceX’s Starlink has options to move into the wireless market. A potential partnership with Charter could ...
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