Denmark has opened its own fintech hub, Copenhagen FinTech, in collaboration with the Financial Services Union of Denmark, the City of Copenhagen and the Danish Bankers Association.

Billed as “Scandinavia’s first co-working space dedicated to fintech entrepreneurs, the hub aims to support the country in the developing digital financial solutions.

The facility will be led by Thomas Krogh Jensen as CEO. He was previously the development and digitisation director at Nordea Liv & Pension.

Financial Services Union Denmark’s Vibeke Rittmann said: “With Thomas, we are getting a visionary and dynamic CEO with the right competences and the drive that is needed to realise Copenhagen FinTech’s ambitions of establishing strong ties between entrepreneurs, the financial sector and the research world.”

The opening of the Denmark hub is the latest in the series of similar initiatives launched by different countries across the globe. Earlier this month, Abu Dhabi Global Market launched a regulatory laboratory to support fintech innovation, while HSBC launched a research and development innovation laboratory for fintech in Hong Kong.

Last month, the US Office of the Comptroller of the Currency revealed plans to launch a fintech innovation office. In the same month, the Ontario Securities Commission (OSC) set up a fintech innovation hub and regulatory sandbox, while Japan’s Mizuho Financial Group unveiled plans to set up an innovation lab.