While Prince Harry and Meghan Markle have postponed their rebranding as non-working British royals in wake of the coronavirus pandemic, they have however revealed the name of their new non-profit empire.

In a conversation with the Telegraph, Prince Harry and Meghan Markle revealed that they will launch their new charity organisation by the name "Archewell," derived from Greek word 'Arche' which inspired their son Archie's name as well.

"Like you, our focus is on supporting efforts to tackle the global Covid-19 pandemic but faced with this information coming to light, we felt compelled to share the story of how this came to be," the Duke and the Duchess of Sussex revealed.

The royal couple shared that they came up with the idea of 'Arche,' which means "source of action," when they named their royal charity SussexRoyal. "We connected to this concept for the charitable organisation we hoped to build one day, and it became the inspiration for our son's name. To do something of meaning, to do something that matters," they said.

Now that they can no longer use the term royal for their branding, they will launch their new organisation by the name Archewell. Talking about the name, which they ended up finalising after considering other variations like Arche Foundation and Archeway, the couple said: "Archewell is a name that combines an ancient word for strength and action, and another that evokes the deep resources we each must draw upon."

The couple, who ceased to be working members of the British royal family on March 31, said that they look forward to launching "Archewell when the time is right."

The parents-of-one shared that their new charity will work towards "organising and conducting support groups for persons in need", including "emotional counseling" and "coordinating social, personal care, and psychological services".

Prince Harry and wife Meghan, Duchess of Sussex
Prince Harry and wife Meghan, Duchess of Sussex, have returned to Canada after completing final royal engagements in the United Kingdom. SIMON DAWSON/POOL

After finishing some final royal engagements in the United Kingdom in March, Harry and Meghan moved to Los Angeles with their son Archie, who will celebrate his first birthday next month. A royal source earlier told People that the couple is "positive about the future" and "it is exciting for them to mark the end of the transition and the official start of their new chapter."