TORONTO – Questrade Financial Group says it has secured regulatory approval to launch Canada’s newest bank.

The company says its Questbank got the final go-ahead from the Office of the Superintendent of Financial Institutions, and that the company will share more in the early half of next year about what it plans to offer.

Questrade chief executive Edward Kholodenko says approval was years in the making and that Canadians will benefit from another competitor in the marketplace.

The move comes as other fintech companies also push more into the banking space, especially Wealthsimple Inc. which has been steadily expanding its offerings to now include chequing accounts, credit cards and mortgages.

Kholodenko says that while he’s not ready to share details yet, Questrade will be working tow

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