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Meet Coin (YC W13), a startup creating a universal credit card

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Re: Meet Coin (YC W13), a startup creating a universal credit card

#181

Post by shittyanalogy »

jes5199 wrote: post #91
shittyanalogy wrote: post #34

Super cool idea! but, terrible name choice, no one is ever going to call it just "Coin" they're gonna call it their "coin card". "Coin" is already slang for money in general like, "dough" or "clams" and is also already a form of money. Do you have a coin? I lost my coin. Check out my coin. I paid for that with coin. Coin is so convenient. I got rid of all my credit cards, I just use coin. All of those will be "coin c…

"BankSimple" was a better name, I think.

Agreed, they had to change it due to legally not being a bank.

Re: Meet Coin (YC W13), a startup creating a universal credit card

#182

Post by msbarnett »

baudehlo wrote: post #177
msbarnett wrote: post #155

Earlier quoted context omitted.

> That's because you need Royal Assent in order to be a bank in Canada. Unlike the US that has hundreds (if not thousands) of banks, Canada only has 5 (or is it 6 now?) massive banks. This isn't really accurate, in that creating a bank nowadays requires only conformation to The Bank Act, not any royal (or by-proxy Governor General) consent. There are 44 domestic or domestic-subsidiary-of-foreign-corporation Schedule…

But all the credit unions are owned by desjardins if I recall correctly.

Most credit unions in Quebec are part of the Desjardins group. They don't seem especially widespread outside of Quebec.

Quickly glancing at the ownership of 9 of the 10 largest credit unions outside of Quebec, 8 of the 9 were unrelated to Desjardins. The 4th largest (Meridian Credit of Ontario) was the sole exception. I couldn't find info on the 9th largest, Cambrian Credit of Manitoba.

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