Blockhain technology company Bitcoin Shop Inc (OTCMKTS:BTCS) has filed to change its name to BTCS Inc, as internal corporate restructuring gathers pace.
The company has already submitted an Issuer Company-Related Action Notification Form with the Financial Industry Regulatory Authority (FINRA), with the change in the name to be officially reflected in registers in the coming weeks. As per information from the U.S. Securities and Exchange Commission (SEC), The Company’s common stock will remain quoted on the OTC Markets under the current symbol “BTCS.”
“While our Company was initially focused solely on the digital currency space, we have since evolved our operations to position ourselves to be a leader in the much larger blockchain technology arena,” stated Charles Allen, Chief Executive Officer of BTCS. “This refined strategic focus represents an exciting market opportunity, and changing our name to reflect this broader focus was an important step in our evolution.”
The Company also presented its new corporate website (www.btcs.com) on Tuesday. Before that the website was in beta. The new site includes additional information about the importance of blockchain technology and its disruptive application across a wide array of industries.
Meanwhile, the merger of BTCS and Israeli Bitcoin start-up Spondoolies-Tech is progressing. Earlier this month, the management of BTCS agreed to cancel all of their options ahead of the merger finalization. In May this year, Spondoolies secured investment worth $1.5 million from BTCS, as a first step in the planned merger.
To view the press release by BTCS on the name change, click here.
To view the SEC filing on the matter, click here.