no it does 16 steps, but i believe if arturia wanted they could make it more steps with an update. if they could turn each pad into a page of 16 steps that you could access maybe by hitting shift cntrl/seq and then hitting a pad you could have 16x16 step loops
the problem is i think thats a lot to ask of a 99 dollar sequencer, i hope im wrong!!
id like to see a tempo somewhere in the software, no way way to know how fast the sequence is going..