MrBeast is conducting a buyout deal for Step with 6.5 million users, a few weeks after receiving a $200 million investment from BitMine and registering the trademark MrBeast Financial related to cryptocurrency.
Beast Industries, the entertainment company founded by YouTuber Jimmy “MrBeast” Donaldson, is executing the buyout of Step – a mobile banking app for teenagers and young adults, marking the most significant step of the world’s largest YouTube channel into the financial services sector.
In a statement on platform X on Monday, Donaldson stated that the goal of the deal is to equip young people with the tools and guidance necessary to access and manage personal finance from an early age. Beast Industries CEO Jeff Housenbold emphasized that financial health is the foundation of overall well-being, but too many people still lack access to the knowledge and tools to build financial security. The specific value of the buyout deal has not been disclosed.
This move comes just a few weeks after Beast Industries received a strategic investment of $200 million from BitMine Immersion Technologies – a company managing Ethereum funds, in January. Notably, Beast Industries registered the trademark “MrBeast Financial” in October last year, listing services related to “cryptocurrency asset exchange,” “payment processing using cryptocurrency,” and “cryptocurrency assets through decentralized exchanges.”
However, the direct connection between this trademark filing and the buyout of Step has yet to be clarified. $BTC
