MrBeast’s New Banking App Step Shows No Signs of Crypto

In an Oct. 17 video about a couple trying to lose weight to win $250,000, Jimmy “MrBeast” Donaldson said he deposited $175,000 into each winner’s Step account.

Beast Industries bought Step, a financial technology company, in February 2026, about a month after Tom Lee-led Bitmine Immersion Technologies announced its $200 million investment in Beast Industries.

“That is real money in your Step Bank account right now. Step is my brand new banking app that, in my opinion, it’s the most rewarding way to set yourself up for your financial future,” MrBeast said in the video. He also promoted a code that gives new users $5 after they fund their account and make a first purchase of $5 or more with their Step card within 30 days.

However, the video’s description says that “Step is not a bank,” and that banking services are provided by Evolve Bank & Trust. Step’s Apple App Store and Google Play Store listings also state that “Step is a financial technology company, not a bank.”

At the time of writing, the video had more than 93 million views.

Legal Crypto Tweaks

Step’s app store listings mention no crypto features. Instead, Step advertises features like credit building, at least 1% cashback, 3% on savings, FDIC insurance up to $1 million, EarlyPay cash advances of $20 to $250, and money for playing games and taking surveys. According to Step’s terms, the 3% is a promotional reward, not interest. In February 2026, Step, founded in 2018, claimed that it had “attracted over 7 million users.”

In Bitmine’s January announcement of the investment, Beast Industries CEO Jeff Housenbold said the company looked forward to “exploring ways to further collaborate and incorporate DeFi [decentralized finance] into our upcoming financial services platform.”

Beast Industries hasn’t specified at the time whether Step was that platform. In the spring, a company spokesperson said Beast Industries had not announced plans to add digital assets to Step and was still evaluating its plans for the app.

Comparing a February 2026 copy of Step’s terms of service from the Internet Archive with the current version, last updated Sept. 26, 2026, Bitcoin.com News found that the section on crypto rewards is gone. That section described how users could take their Step rewards as crypto or stock instead of cash. It now covers only stock rewards. However, the general definition of rewards still lists cash, points, cryptocurrency, stock, or other forms, and points can still be redeemed for cash, crypto, or stock “when available.”

It’s unclear whether this is simply a legal cleanup, as Step stopped offering crypto asset services in 2024. The company used to offer crypto asset trading, including to minors with parental permission, but shut it down in May 2024.

In either case, the current version still leaves the door open for crypto asset-related features.

Crypto-Related Trademarks

When announcing its investment in Beast Industries, Bitmine said it was gaining access to MrBeast’s young audience and hoped to speed up adoption of Ethereum-related products. Earlier, in October 2025, Beast Holdings LLC filed trademark applications for “Beast Financial” and “MrBeast Financial.” The MrBeast Financial application lists services including centralized and decentralized crypto exchanges and crypto payment processing.

While MrBeast and his team have made no further announcements, Step continues to offer the same products it did before the acquisition: a Step Visa card, credit building capabilities, cashback, savings rewards, and cash advances, with no crypto features.

Bitcoin.com News contacted Beast Industries and Step for comment and will update the story if they respond.

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