Step Finance Eyes Tokenized NASDAQ Stocks on Solana in 2025 

• Step Finance launched its ambitious plan for the multibillion-dollar RWA tokenization sector. 

• The company acquired an early-stage startup to advance the plan as early as Q1 2025. 

• Step Finance aims to make Solana, the second-largest blockchain by TVL, a leading blockchain for accessing tokenized traditional assets. 

DeFi platform Step Finance announced a new acquisition on Thursday that will help it tap into the multibillion-dollar Real World Asset (RWA) tokenization market with tokenized stock trading of major companies on the Solana blockchain. 

Launched in 2021, Step Finance provides a portfolio management and analytics tool for users interacting with protocols on Solana, the second-largest blockchain network by $9.432 billion in total value locked (TVL) as of December 12, according to DefiLlama data. 

The platform allows users to access wallet-level data insights via an intuitive dashboard and on-chain developer APIs for enterprise-grade applications. In addition to its analytics platform, Step Finance owns media company SolanaFloor and Solana Allstars, a global event that claims to be active in over 50 cities. 

Photo by Getty Images 

Step Finance Enters the RWA Tokenization Market 

According to a press release on December 12, Step Finance acquired early-stage startup Moose Capital and rebranded it to Remora as part of its strategic entry into the RWA market, which recently surged to $13 billion amid heightened demand for bridging traditional financial assets with DeFi strategies. The development marked the company’s third acquisition after it bought SolanaFloor in 2022 to provide Web3 insights. 

Step Finance said Remora, which specialized in tokenizing traditional stocks before rebranding, will help it and the Solana blockchain gain a significant share of the RWA market through a product that will allow users to trade shares of companies like Nvidia and Tesla just like they buy and sell any other SPL tokens. 

“Tokenized stocks are an attractive investment for risk-averse traders who want to diversify their portfolios and bypass traditional barriers like high fees, slow settlement times, and limited geographic access to regional markets,” Step Finance co-founder George Harrap stated. “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.” 

In addition to buying Moose Capital, Step Finance acquired the company’s team and regulatory licenses, which Harrap said positions the company to unlock “all” regulated institutional activities once Remora launches in mainnet in Q1 2025. These initiatives might include “MSTR style listings, exchange-traded fund (ETF) launches, and “even more down the road,” according to Harrap. 

Remora’s RWA Tokenization Play 

Commenting on the development, the Remora team said in a Thursday X post that the upcoming mainnet launch would provide a secure and compliant platform for burning and minting, creating a seamless gateway to traditional assets for crypto natives across the world. 

“Operating similarly to stablecoins, Remora tokenized assets will be fully composable on Solana as SPL tokens and ready to use from day one across all major DeFi platforms,” the post read. “And there will not be a Remora token. As with all of Step’s products, 100% of revenue generated through Remora will flow directly to $STEP holders through token buybacks.” 

Remora’s acquisition positions Step Finance to supercharge Solana’s influence in the RWA sector, where it controls a mere 3.1% of the market share, according to Artemis data. According to the data, Ethereum dominates the niche with a 78.1% market share, ahead of Stellar and Polygon, which account for 6.7% and 3.9%, respectively. 

But while Stellar and Polygon control a sizeable market share, Solana boasts more RWA holders, suggesting the network’s participants are eager to explore the rapidly growing niche for greater exposure to on-chain tokenization. At the same time, Solana has a greater number of stablecoin holders than the two networks combined.