YouTube Star MrBeast Just Bought a Banking App—Will It Offer Crypto?
Beast Industries, the business arm of YouTube star MrBeast (James Donaldson), has agreed to acquire fintech startup Step for an undisclosed sum. Step specializes in mobile banking services for teenagers and young adults and operates with Evolve Bank & Trust, an FDIC-insured bank. MrBeast cited a desire to improve financial literacy and access among young people as motivation for the acquisition. Step has raised $491 million from investors including Stephen Curry, Justin Timberlake, Will Smith, and The Chainsmokers. This move aligns with MrBeast’s broader ambitions in financial services, as indicated by previous trademark filings related to digital assets and payments. Beast Industries did not disclose when the deal will close. Industry leaders have endorsed the acquisition, highlighting its potential to enhance financial education for Gen Z.
