why haven't we seen more neobanks in europe? 

just revolut, n26, bunq so far it seems? regulation in each country too hard to navigate?

Building Larry, FOSS via @frames, @framesfun /open-frames to help decentralized social win. a16z CSX23. farcasterchannels.com farcaster.id

My guess is that there is more regulation and less money to be made in general, so costs are higher and revenues lower.

America’s system is really « bottom up », they actually have some of the most banks per capita, and lots of space for middlemen to take a cut on tx volume.