[Klarna](https://www.cnbc.com/quotes/KLAR/), the Swedish fintech firm best known for its buy now, pay later offerings, said Monday it applied to federal and state regulators to [establish a U.S. bank subsidiary](https://www.businesswire.com/news/home/20260702186046/en/Klarna-Submits-Application-for-U.S.-Banking-License).
The firm said that, if approved, Klarna Bank USA would be a Federal Deposit Insurance Corp.-backed institution chartered in Utah. The proposed bank would be led by [Gary Harding](https://www.linkedin.com/in/gary-harding-763492a/), former CEO of Milestone Bank and Prime Alliance Bank, according to Klarna.
