Italian fintech startup Euklid has raised a seed round that values the company at €10 million, and will move its headquarters to London. The names of the investors were not disclosed.

Euklid first started developing tech that predicts the fluctuations of cryptocurrencies by applying AI to bitcoin and the blockchain. Now the company is focused on building a transparent investment bank on the blockchain, free of charges, run by AI that it dubs “The Bank of Tomorrow” and is planning partnerships with other firms.

“At Euklid humans are mere observers, and investors are guaranteed a high level of transparency. Every single operation of our trading activity is registered in the Blockchain,” said Antonio Simeone, CEO of Euklid.

With the new funds, the company will establish its London presence as well as an RAIF fund in Luxembourg.

“London offers the ideal ecosystem,” said Simeone. “Here we can meet the needs of new investors and rely on an innovative and efficient financial industry also thanks to a lighter regulatory environment.”

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