[tistoon]

Revolut neo bank (GB) tried to enter the canadian market in November 2019. It was in beta mode for one and half year, then it has quit the canadian market!

Why? because they failed obtaining a bank licence!

It is very hard for a new bank to come to Canada. They have to "partner" with one of the 5 existing oligarch banks! Imagine.. as a business, you have to "partner" with a competing bank in order to operate!

Meawhile, Revolut has successfully opened in 10 other countries at the same time..

Tourists and strangers don't really catch how the canadian market is ruled by oligarch / oligopoly so few players/businesses.

There is NO COMPETITION here! Welcome to CanaRussia!

Sources: https://portfolioplus.com/what-happened-to-revolut-canada-wh... https://www.fintechfutures.com/2021/03/revolut-exits-canada-...

[RandyRanderson]

After a banking charter is given, the Canadian PM gets put on their board (after the PM leaves politics).

Definitely no quid pro quo there.