Crypto Market Update: Klarna raises US$1.37B in New York IPO

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$113,654, a 0.9 percent increase in 24 hours and its highest valuation of the day so far. Its lowest was US$110,822.

Bitcoin price performance, September 10, 2025

Chart via TradingView

Ether (ETH) was priced at US$4,389.26, an increase of 1.3 percent tover the past 24 hours. Its lowest valuation on Wednesday was US$4,280.00 and its highest was US$4,388.18.

Altcoin price update

• Solana (SOL) was priced at US$224.24, an increase of 3.4 percent over the last 24 hours. Its lowest valuation on Wednesday was US$212.10, and its highest level was US$224.15.

• XRP was trading for US$3.01, up by 0.3 percent in the past 24 hours and its highest valuation of the day so far. Its lowest valuation was US$2.94.

• SUI (Sui) was priced at its highest valuation of the day, US$3.59, up by 1.2 percent in the past 24 hours. Its lowest valuation on Monday was US$3.43.

• Cardano (ADA) was priced at US$0.8892, up by 0.8 percent and its highest valuation on Wednesday so far. Its lowest was US$0.854.

Today’s crypto news to know

Klarna secures $1.37B in New York IPO

Klarna raised US$1.37 billion in its US IPO this week, marking one of the largest fintech listings of the year and a potential catalyst for other high-growth firms eyeing Wall Street.

The Swedish buy-now-pay-later company sold 34.3 million shares at US$40 each, topping its expected price range and valuing the firm at roughly US$15 billion. That figure, however, is still far below the US$45 billion valuation it commanded at the peak of its pandemic-driven surge.

Investor appetite was strong, with the deal oversubscribed 25 times, according to people familiar with the sale.

Klarna, backed by Sequoia Capital, has been unprofitable since expanding aggressively in the US where costs have climbed faster than revenues.

Losses widened to US$52 million in Q2, but overall sales still grew nearly 21 percent year-on-year.

India leans away from sweeping crypto regulation

India is signaling it will avoid a full-scale regulatory framework for cryptocurrencies, according to a government paper reviewed by Reuters.

The document reiterated the Reserve Bank of India’s view that regulating digital assets could unintentionally confer legitimacy and increase risks to the broader financial system.

Instead, officials are leaning toward limited oversight, wary of speculative trading and systemic contagion.

This stance comes as other major economies, including Japan and Australia, advance regulatory regimes while China keeps its outright ban in place.

US developments, including federal recognition of stablecoins, have added pressure on India to clarify its position, but policymakers remain cautious. Attempts to ban private cryptocurrencies in 2021 stalled, and a planned 2024 discussion paper was shelved pending international consensus.

For now, India is prioritizing containment over expansion, even as global Bitcoin prices and adoption rates hit record highs.

Rapyd launches stablecoin payment suite

Fintech platform Rapyd has introduced its Stablecoin Payment Solutions, giving businesses the ability to accept, settle, and pay out using stablecoins through one integrated system.

The offering is pitched as an answer to fragmented global money movement, consolidating what has often required multiple providers into a single platform. Rapyd aims to tap over US$27 trillion in stablecoin transaction volume recorded across blockchains this year.

The platform enables real-time payouts, treasury management, and currency conversion, potentially easing reliance on traditional rails like SWIFT.

Executives say the service is aimed at industries from gaming to global e-commerce, where speed and liquidity are critical.

As both US and European regulators formalize rules under the GENIUS Act and MiCA, Rapyd is betting that its unified approach can help enterprises cut costs and streamline cross-border operations.