Step Finance expands into tokenized assets through the acquisition of Moose Capital, soon to be Remora Markets, establishing the first Real-World Assets marketplace on Solana for trading fractional shares of major companies.
By Chimamanda U. Martha
Edited by Marco T. Lanz
Updated
3 mins read
Step Finance, a decentralized finance (DeFi) protocol specializing in portfolio tracking, analytics, and data solutions, has announced the acquisition of Moose Capital. The move marks a significant step in expanding its presence in the tokenized asset market on the Solana blockchain.
Under the acquisition, Moose Capital will rebrand as Remora Markets while continuing its role as an online marketplace for Real-World Assets (RWAs). This platform will enable users to access fractionalized traditional finance (TradFi) assets, including stocks of major companies like Nvidia (NVDA) and Tesla (TSLA), directly on-chain.
Although the financial details of the transaction remain undisclosed, Step Finance confirmed on Thursday that it has integrated Moose Capital’s team and regulatory licenses in preparation for a launch scheduled in the first quarter of 2025.
George Harrap, co-founder of Step Finance, told The Block that Remora Markets is registered in several jurisdictions, including Canada and the United Arab Emirates (UAE), as a qualified marketplace for RWAs. However, until it secures regulatory approval in the United States and Europe, the platform will only be accessible to users outside these regions.
According to Step Finance, Remora Markets aims to remove significant barriers to entry associated with traditional assets, such as steep brokerage fees and lengthy transaction processes.
Harrap also highlighted the appeal of tokenized stocks to investors seeking to diversify their portfolios without the hurdles of traditional markets. He noted that Remora Markets stands out as the only RWA marketplace on the Solana blockchain, offering a distinct advantage to traders.
“No one else offers this on Solana, so we anticipate a high influx of traders coming to the platform because it’s faster, cheaper, and easier to trade tokenized stocks here than on any other chain,” said Harrap.
As part of the agreement, Remora Markets will channel 100% of its protocol revenue into Step Finance’s $STEP buyback program, creating additional sustainable value for the platform’s native token.
Step Finance revealed that this acquisition is its third since its launch in 2021, bringing the platform one step closer to achieving its goal of becoming the “front page of Solana.” Co-founder Harrap described the acquisition as a natural extension of the brand’s product offerings, positioning it to attract institutional players to Solana, one of the most efficient blockchain networks.
This strategic acquisition positions Step Finance to compete in the $13 billion RWA market, leveraging its established reputation within the Solana ecosystem to capture a share of this expanding sector.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
