Klarna Group plc (KLAR) Partners With Coinbase

Klarna Group plc (NYSE:KLAR) is one of the Best Young Tech Stocks to Buy. On December 19, Klarna Group plc (NYSE:KLAR) announced its partnership with Coinbase to incorporate stablecoins into its funding mix.

The company sources its funding from consumer deposits, long-term loans, and short-dated commercial paper. After this partnership, the company has added stablecoins, particularly USDC, as a funding source. Moreover, the company also plans to raise short-term cash from big institutional investors directly in USDC, using Coinbase’s blockchain-based tools.

Earlier, on December 15, the company introduced Agentic Product Protocol, which is an open standard designed to supercharge AI agents in e-commerce. Management noted that the new protocol creates a universal language for product data that pulls data from over 100 million products and over 400 million prices from 12 global markets. This allows AI agents to discover, compare, and provide real-time product data, thereby positioning AI as the go-to interface for shopping.

That said, Wall Street has a positive outlook on Klarna Group plc (NYSE:KLAR). On December 18, Jason Kupferberg from Wells Fargo reiterated a Buy rating on the stock and raised the price target from $29 to $53. Earlier on December 10, James Faucette from Morgan Stanley reiterated a Hold rating on the stock with a $39.

Klarna Group plc (NYSE:KLAR) describes itself as a global digital bank and flexible payments provider, aiming to help consumers manage everyday spending and shopping through its app and merchant network.

While we acknowledge the potential of KLAR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KLAR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.