Step Finance Eyes Q1 Launch of Tokenized Equities on Solana After Strategic Acquisition
Step Finance, a Solana-focused DeFi platform, has taken a significant step toward bringing traditional equities onto the blockchain by acquiring Moose Capital, an early-stage startup specializing in tokenized stocks. Through this strategic move, Step Finance plans to offer users the ability to buy and sell shares of major companies like Nvidia and Tesla directly on the Solana network.
Established as a portfolio management and analytics hub for Solana traders, Step Finance also oversees the media outlet SolanaFloor, which focuses on the NFT landscape, as well as Solana Allstars, a global events initiative now active in over 50 cities. The integration of Moose Capital’s platform, soon to be rebranded as Remora Markets, marks the firm’s latest effort to expand its footprint in decentralized finance.
In addition to acquiring Moose Capital’s product, Step Finance has onboarded the startup’s entire team and secured its regulatory licenses, positioning the company for a planned launch of Remora Markets in the first quarter of 2025. According to Step Finance co-founder George Harrap, Moose Capital holds a range of licenses across multiple jurisdictions—including Canada and the UAE—with efforts underway to secure approvals in additional regions. At launch, Remora Markets will be accessible to KYC-verified clients based outside the U.S. and the EU.
“Tokenized stocks appeal to more cautious investors looking to broaden their portfolios without facing the usual hurdles such as excessive fees, drawn-out settlement times, or restricted regional market access,” Harrap said in a statement. “No one else is offering this kind of service on Solana, so we anticipate significant interest. Trading tokenized shares here will be faster, more cost-effective, and more convenient than on any other chain.”
Despite the concept’s promise, tokenized stocks have yet to capture a wide following in the crypto sector. Industry challenges range from unclear regulations and complex custody arrangements to competition from traditional brokerages like Robinhood, which already enable fractional share ownership. Harrap acknowledged that regulatory uncertainty, as well as securing the right banking and brokerage partnerships, presented obstacles in the past. However, he noted that shifting political landscapes and a surge in real-world asset (RWA) tokenization—led in part by platforms handling tokenized U.S. Treasuries—have opened new opportunities.
Step Finance aims to leverage the Moose Capital acquisition to carve out a larger space for Solana within the $14 billion RWA market, a sector currently dominated by Ethereum. Outside of stablecoins, which have surpassed $200 billion in assets, Ethereum commands about 76% of RWA value. Solana’s share, by contrast, stands at only 3%. On-chain equities represent a mere $12 million slice of the RWA market, with most of that still on Ethereum and other chains like Gnosis and Polygon.
Harrap believes Solana’s proven strengths—its track record in token issuance, decentralized exchange volume, and NFT activity—will also translate into success with tokenized real-world assets. The Moose Capital deal marks Step Finance’s third acquisition since its launch in March 2021, aligning with the company’s broader mission to enrich the Solana ecosystem and diversify liquidity sources.
“We’ve been building on Solana since 2021, and this acquisition fits naturally into our product suite,” Harrap said. “It also paves the way for licensed institutional activities at Step, potentially including listings similar to MicroStrategy (MSTR), ETFs, and more initiatives down the line.”