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Nas and Will Smith have joined forces and invested in a banking mobile app to give teens an opportunity to learn financial literacy. With the help of others, they were able to raise $22 million for the non-fee banking app.
The start-up company Step, will allow parents to oversee what their kids are spending on and how much. He mentioned that he wants to make sure the next generation of adults knows how to be responsible with their money in a cashless era.
CEO and founder, CJ MacDonald, stated that he wanted to create this app to teach kids what school did not.
While the app will be tied to a MasterCard, the app’s services will also grow as the teens grow.
As for now, the app is currently available on Android and iOS.