The YouTube giant’s parent company is buying a Gen Z-focused banking app as crypto ambitions quietly sit in the background.
Beast Industries, the company founded by YouTube creator Jimmy “MrBeast” Donaldson, is acquiring Step, a mobile banking app aimed at teenagers and young adults, marking its most direct move into financial services to date.
The deal comes just weeks after Ethereum treasury firm BitMine Immersion Technologies invested $200 million into Beast Industries and months after entities linked to Donaldson filed trademarks for “MrBeast Financial,” including references to cryptocurrency exchange and payment services.
Financial terms of the Step acquisition were not disclosed.
A Gen Z banking play
Donaldson framed the move as an effort to give younger audiences practical financial tools early in life.
In a post on X on Monday, he said the acquisition was about helping young people “navigate personal finance from an early age,” rather than launching a new product line outright.
I'm so excited to share that we are acquiring the financial services app, @step
— MrBeast (@MrBeast) February 9, 2026
Nobody taught me about investing, building credit, or managing money when I was growing up. That's exactly why we’re joining forces with Step! I want to give millions of young people the financial…
MrBeast Official Announcement.
Step offers FDIC-insured spending accounts through Evolve Bank & Trust and focuses on budgeting, rewards, credit-building, and financial literacy for Gen Z users.
The app has grown to 6.5 million users since launching in 2018.
Beast Industries CEO Jeff Housenbold described the acquisition as a natural extension of the company’s audience-first strategy.
“Financial health is fundamental to overall wellbeing, yet too many people lack access to the tools and knowledge they need to build financial security,” Housenbold said.
“This acquisition positions us to meet our audiences where they are, with practical, technology-driven solutions that can transform their financial futures for the better.”
They raised roughly $500 million across multiple funding rounds, with backing from figures including Stephen Curry, Justin Timberlake, Will Smith, Charli D’Amelio, and The Chainsmokers.
Crypto ambitions remain unresolved
The acquisition lands against a backdrop of growing speculation around Beast Industries’ longer-term financial ambitions.
In October, entities linked to Donaldson filed trademarks for “MrBeast Financial,” explicitly referencing “cryptocurrency exchange services,” “cryptocurrency payment processing,” and decentralized exchange activity. Those filings fueled questions about whether the creator’s expanding business empire could eventually include crypto-native products.
For now, there is no confirmation that Step is connected to those plans.
BitMine’s investment adds another layer
In January, BitMine Immersion Technologies announced a $200 million strategic investment into Beast Industries, framing the deal as a long-term bet on the creator economy rather than a crypto integration play.
At the time, BitMine chairman Tom Lee emphasized Donaldson’s reach across younger demographics.
“MrBeast and Beast Industries, in our view, is the leading content creator of our generation, with a reach and engagement unmatched with Gen Z, Gen Alpha and Millennials,” Lee said.
Lee added that BitMine’s corporate values were “strongly aligned” with Beast Industries, without pointing to any immediate plans involving digital assets.
Following the Step news, Lee again voiced support on X, writing that Gen Z is entering a critical stage for learning how to manage savings, invest, and understand financial markets.
Finance first, crypto later, if at all
For now, the Step acquisition appears squarely focused on regulated, mainstream finance rather than crypto experimentation. The app already operates within the U.S. banking system, and Beast Industries has not indicated any near-term plans to layer digital assets onto the platform.
Still, the combination of a large Gen Z banking footprint, recent crypto-related trademarks, and backing from a crypto treasury firm suggests Beast Industries is keeping its options open.
Whether that eventually leads to crypto products, or remains a conventional financial education play remains an open question.
Gunel Ismayilova
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice, HODL FM strongly recommends contacting a qualified industry professional.
