Beast Industries, the entertainment company founded by YouTube superstar Jimmy "MrBeast" Donaldson, has announced its acquisition of Step, a mobile banking application focused on teenagers and young adults. This move marks the company's most significant foray into the financial sector to date.
In a post on X, Donaldson explained the motivation behind the acquisition, stating a desire to equip young people with the tools and guidance needed to navigate personal finance from an early age, a resource he felt he lacked while growing up. Beast Industries CEO Jeff Housenbold echoed this sentiment, emphasizing that "financial health is fundamental to overall wellbeing, yet too many people lack access to the tools and knowledge they need to build financial security." The financial terms of the acquisition were not disclosed.
The strategic push into finance follows a major $200 million investment into Beast Industries from Ethereum treasury firm BitMine Immersion Technologies in January 2026. At the time of that investment, BitMine Chair Tom Lee described it as a long-term bet on the creator economy, calling MrBeast "the leading content creator of our generation" and noting their corporate values were "strongly aligned."
Furthermore, a trademark filing for "MrBeast Financial" from October 2025 hinted at broader ambitions, listing services including "cryptocurrency exchange services," "cryptocurrency payment processing," and "cryptocurrency via decentralized exchanges." It remains unclear if this trademark is directly related to the Step acquisition.
Step, launched in 2018, has scaled to 6.5 million users. Its app helps Gen Z users manage money, build credit, and earn rewards, with spending accounts FDIC-insured through Evolve Bank & Trust. The company has raised approximately $500 million from high-profile investors including athletes and celebrities.
Housenbold stated the acquisition "positions us to meet our audiences where they are, with practical, technology-driven solutions that can transform their financial futures for the better." Step CEO and Founder CJ MacDonald noted the partnership made sense due to shared beliefs in helping others.
