- Step Finance wants to be the first company to introduce tokenized trading for well-known equities, like as Tesla and Nvidia, into the Solana ecosystem.
- To support its goals, including obtaining the regulatory approvals required for a Q1 2025 launch, the initiative has purchased early-stage business Moose Capital.
Early-stage business Moose Capital, which specializes in tokenizing conventional equities with the goal of enabling consumers to purchase and sell shares of firms like Nvidia and Tesla directly on the Solana blockchain, was purchased by DeFi platform Step Finance.
Step Finance is intended to function as an analytics center and portfolio management solution for Solana users. Additionally, it owns SolanaFloor and Solana Allstars, media companies.
Step Finance has onboarded the startup’s personnel and its regulatory licenses in anticipation of a Q1 2025 launch, in addition to purchasing the Moose Capital product, which it intends to rename to Remora Markets. “Moose Capital uses licenses in a number of jurisdictions, including as Canada, the United Arab Emirates, and others, and it plans to extend its licensing to additional jurisdictions in Q1. Clients that have undergone KYC verification in non-US and non-EU countries will have access to Remora Markets.
Risk-averse traders who wish to diversify their holdings and get over conventional obstacles like exorbitant fees, protracted settlement periods, and restricted geographic access to regional markets find tokenized equities to be an alluring investment. Since no one else does this on Solana, we expect a large number of traders to join the platform because trading tokenized stocks here is quicker, less expensive, and simpler than on any other chain.
Entering the $14 billion RWA industry
For a number of reasons, including regulatory uncertainty, counterparty and custody risks, a lack of institutional support, and competition from more established platforms like Robinhood that already offer fractional shares, tokenized stocks—which allow users to own fractional shares in real-world stocks on the blockchain—have had difficulty making a name for themselves in the cryptocurrency market.
Harrap acknowledged that securing appropriate banker and broker connections and regulatory ambiguity were previously major obstacles, but he noted that recent political shifts and the increasing demand for RWA tokenization—which was led by tokenized Treasuries platforms—were altering the picture.
Step Finance is certain that the acquisition will enable it and the Solana ecosystem to capture a sizeable portion of the $14 billion real-world asset market, which is controlled by Ethereum and consists of corporate bonds, private loans, and US Treasuries. Ethereum holds a 76% share of the overall RWA value, excluding stablecoins, which just reached values of over $200 billion.
According to RWA, just $12 million of the total is made up of onchain stocks, including $6 million on Ethereum, $5.3 million on Gnosis, and $750,000 on Polygon.xyz.
The same factors that made Solana the most successful chain in terms of token issuance, DEX volume, and NFT volume will also make RWAs successful.
As part of its declared goal to improve DeFi by adding new liquidity and portfolio diversification to Solana’s ecosystem, Step Finance has acquired three companies since its founding in March 2021, including Moose Capital. Since 2021, we have been expanding on Solana, so this acquisition fits in perfectly with our line of products. Additionally, this gives us at Step access to all regulated institutional activities, including the launch of ETFs, MSTR-style listings, and even more in the future.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
