Financial and Business News

MrBeast Banks on Teens: Step Users Meet 450M YouTube Subscribers for Zero-Cost Distribution

Tuesday, 10/02/2026 | 12:45 GMT by Tareq Sikder
  • Step, a US-based financial services app, offers teen banking, credit, investing, and spending tools.
  • Beast Industries aims to boost Gen Z financial literacy using Step’s technology and team.
Jimmy Donaldson, known as MrBeast. Source: YouTube
Jimmy Donaldson, known as MrBeast. Source: YouTube

Jimmy Donaldson, the world’s largest YouTuber by subscriber count, known as MrBeast, has acquired Step, a U.S.-based financial services app for teens and young adults. Financial terms of the deal were not disclosed. Step will operate under Donaldson’s company, Beast Industries.

Step Partners with MrBeast for Teens

Step, founded in 2018 by fintech veterans CJ MacDonald and Alexey Kalinichenko, offers an all-in-one money app that allows young users to save, spend, send money, invest, and build credit.

While it is not a bank, Step partners with Evolve Bank & Trust for regulated banking services and provides a Step Visa Card with no monthly fees. The platform is backed by Stripe and investors including Coatue, Collaborative Fund, Crosslink Capital, and General Catalyst.

“Nobody taught me about investing, building credit, or managing money when I was growing up,” MrBeast said in a video to his audience. “That’s exactly why we’re joining forces with Step. I want to give millions of young people the financial foundation I never had.”

Step Acquisition Expands Beast Industries Reach

Step has over 7 million users, and its technology and in-house fintech team complement Beast Industries’ global digital audience of more than 450 million subscribers, 5 billion monthly views, and philanthropic initiatives.

Analysts note that the acquisition pairs regulated banking infrastructure with MrBeast’s unparalleled reach, giving the company a “zero-cost” distribution model that could challenge traditional neobanks and retail banks.

Beast Industries has been fundraising over the past year, including a recent $200 million investment from Bitmine Immersion Technologies, chaired by Fundstrat’s Tom Lee. The acquisition also aligns with Donaldson’s broader ventures, including Feastables (snacks), Beast Philanthropy, and Beast Games, a reality competition series on Amazon Prime Video.

Jeff Housenbold, CEO of Beast Industries, said in a statement: “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.”

Jimmy Donaldson, the world’s largest YouTuber by subscriber count, known as MrBeast, has acquired Step, a U.S.-based financial services app for teens and young adults. Financial terms of the deal were not disclosed. Step will operate under Donaldson’s company, Beast Industries.

Step Partners with MrBeast for Teens

Step, founded in 2018 by fintech veterans CJ MacDonald and Alexey Kalinichenko, offers an all-in-one money app that allows young users to save, spend, send money, invest, and build credit.

While it is not a bank, Step partners with Evolve Bank & Trust for regulated banking services and provides a Step Visa Card with no monthly fees. The platform is backed by Stripe and investors including Coatue, Collaborative Fund, Crosslink Capital, and General Catalyst.

“Nobody taught me about investing, building credit, or managing money when I was growing up,” MrBeast said in a video to his audience. “That’s exactly why we’re joining forces with Step. I want to give millions of young people the financial foundation I never had.”

Step Acquisition Expands Beast Industries Reach

Step has over 7 million users, and its technology and in-house fintech team complement Beast Industries’ global digital audience of more than 450 million subscribers, 5 billion monthly views, and philanthropic initiatives.

Analysts note that the acquisition pairs regulated banking infrastructure with MrBeast’s unparalleled reach, giving the company a “zero-cost” distribution model that could challenge traditional neobanks and retail banks.

Beast Industries has been fundraising over the past year, including a recent $200 million investment from Bitmine Immersion Technologies, chaired by Fundstrat’s Tom Lee. The acquisition also aligns with Donaldson’s broader ventures, including Feastables (snacks), Beast Philanthropy, and Beast Games, a reality competition series on Amazon Prime Video.

Jeff Housenbold, CEO of Beast Industries, said in a statement: “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.”

Topics
fintech
MrBeast
Banking
Neobanks
About the Author: Tareq Sikder
Tareq Sikder
  • 2133 Articles
  • 38 Followers
A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

More from the Author

Trending

Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI

Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI

Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025. In this wide-ranging discussion, Hannah shares insights on: 🔹What winning the Finance Magnates award means for AXI’s credibility and innovation 🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards 🔹The development and rollout of the AXI trading app across multiple markets 🔹Driving brand evolution alongside technological advancements 🔹Encouraging and recognizing teams behind the scenes 🔹The role of marketing, content, and social media in building product awareness Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape. 🏆 Award Highlight: Most Innovative Broker of the Year 2025 👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events. #FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI

Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025. In this wide-ranging discussion, Hannah shares insights on: 🔹What winning the Finance Magnates award means for AXI’s credibility and innovation 🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards 🔹The development and rollout of the AXI trading app across multiple markets 🔹Driving brand evolution alongside technological advancements 🔹Encouraging and recognizing teams behind the scenes 🔹The role of marketing, content, and social media in building product awareness Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape. 🏆 Award Highlight: Most Innovative Broker of the Year 2025 👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events. #FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
More Videos

  • Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25

    Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25

    In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide. We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand. We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error. We close with a practical question: how retail investors can actually use AI without falling into common traps.

    In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide. We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand. We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error. We close with a practical question: how retail investors can actually use AI without falling into common traps.

  • Executive Interview | Brendan Callan | CEO, TRADU | FMLS:25

    Executive Interview | Brendan Callan | CEO, TRADU | FMLS:25

    Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner. In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences. We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading. This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.

    Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner. In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences. We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading. This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.

  • Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse

    Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse

    Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025. 🔹In this wide-ranging discussion, Elina shares insights on: 🔹What winning a Finance Magnates award means for credibility and reputation 🔹How broker demand for stability and reliability is driving rapid growth 🔹The launch of a new trade server enabling flexible front-end integrations 🔹Why ultra-low latency must be proven with data, not buzzwords 🔹Common mistakes brokers make when scaling globally 🔹Educating the industry through a newly launched Dealers Academy 🔹Where AI fits into trading infrastructure and where it doesn’t Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market. 🏆 Award Highlight: Best Connectivity 2025 👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events. #FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview

    Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025. 🔹In this wide-ranging discussion, Elina shares insights on: 🔹What winning a Finance Magnates award means for credibility and reputation 🔹How broker demand for stability and reliability is driving rapid growth 🔹The launch of a new trade server enabling flexible front-end integrations 🔹Why ultra-low latency must be proven with data, not buzzwords 🔹Common mistakes brokers make when scaling globally 🔹Educating the industry through a newly launched Dealers Academy 🔹Where AI fits into trading infrastructure and where it doesn’t Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market. 🏆 Award Highlight: Best Connectivity 2025 👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events. #FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview

  • Blueberry Broker Review 2026: Regulation, Platforms, Fees & Trading Conditions | Finance Magnates

    Blueberry Broker Review 2026: Regulation, Platforms, Fees & Trading Conditions | Finance Magnates

    In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles. We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading. You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts. We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services. Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance. 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights

    In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles. We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading. You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts. We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services. Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance. 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights