Klarna has applied to the Utah Department of Financial Institutions and the FDIC to establish Klarna Bank USA, a proposed Utah-chartered industrial bank. If approved, the unit would be FDIC-insured and operate as a wholly owned subsidiary of Klarna Inc.

The move marks another step in Klarna's push beyond buy now, pay later and deeper into full-scale banking. The company says it already serves U.S. customers through partner banks, while about 30 million Americans use Klarna each year.

Klarna also named Gary Harding, former chairman and CEO of Milestone Bank and former president and CEO of Prime Alliance Bank, to lead the proposed bank if the application is approved.