Step Finance Acquires Moose Capital

DeFi platform Step Finance has acquired early-stage startup Moose Capital, specializing in tokenizing traditional stocks. This acquisition aims to enable users to buy and sell shares of companies like Nvidia and Tesla directly on the Solana blockchain.

About Step Finance

Step Finance serves as a portfolio management tool and analytics hub for Solana users. It also owns media company SolanaFloor and operates Solana Allstars, a global events program active in over 50 cities.

Moose Capital and Remora Markets

Along with acquiring Moose Capital, which will be rebranded as Remora Markets, Step Finance has onboarded the startup’s team and regulatory licenses. The launch is planned for Q1 2025. Moose Capital holds licenses across multiple jurisdictions, including Canada and UAE, and is expanding further.

George Harrap, co-founder of Step Finance, stated that Remora Markets will cater to KYC-verified clients in non-U.S. and non-EU territories. He believes tokenized stocks provide attractive investments by allowing users to bypass traditional barriers such as high fees and slow settlement times.

The $14 Billion Real-World Asset Market

Tokenized stocks allow users to own fractional shares of real-world equities on the blockchain. Despite struggling to gain traction due to regulatory and market competition concerns, recent political changes and rising demands for RWA tokenization are shifting the landscape.

Step Finance aims to capture a significant share of the $14 billion RWA market, which includes private credit, U.S. Treasuries, and corporate bonds, currently dominated by Ethereum. Currently, Solana holds only a 3% share.

Conclusion

Moose Capital is Step Finance’s third acquisition since launching in March 2021, aligning with its mission to enhance DeFi by providing new liquidity and portfolio diversification on Solana. Harrap emphasized that the acquisition unlocks licensed institutional activities, expanding opportunities like listings and ETF launches.