Bithumb has renamed its corporate name as Bithumb Korea and decided to expand partnerships with domestic and foreign companies.

It said it would no longer use its abbreviated name BTC and its official name would be Bithumb Korea. The name change is to expand blockchain and cryptocurrency business both at home and abroad.

It said Bithumb Korea is widely known worldwide, although BTC is seldom known. “That’s the reason why we change the corporate name,” a Bithumb spokesman said Wednesday.

It would also introduce the Bithumb family, which includes projects and subsidiaries Bithumb has pursued with domestic and foreign partners so far.

Bithumb Korea has been doing the cryptocurrency custodian business through its subsidiary. It has pursued an over-the-counter (OTC) trading with foreign partners.

It has run Bithumb Global in Shanghai. Since last February, it has opened the OTC market through its Ortus blockchain platform.

It has also partnered with U.S. SeriesOne to launch the securities-type token offering. It teamed up with UAE-based N-Velop to open the cryptocurrency exchange.

Bithumb Global would start Bithumb Chain and Bithumb research projects.