The Facebook-backed cryptocurrency project Libra is changing its name to reflect adjustments made by its designers to “meet regulatory expectations,” according to a statement released Tuesday.

The Libra Association announced its new title is Diem Association, named for the Latin word for “day.” The digital currency will be called the Diem Dollar.

The group said the renaming represents a “new day” for the project and maintains the goal of creating a secure and straightforward platform to conduct quick and low-cost transactions worldwide.

The renaming is an effort by the company to gain a foothold in the emerging market and win over regulators and lawmakers, according to Bloomberg.