One of the world’s foremost cryptocurrency exchanges, Huobi has rebranded to HTX. The crypto exchange made the revelation today at the ongoing TOKEN2049. More so, the rebranding according to Huobi surfaced in celebration of its 10th anniversary. In addition to the new brand name, the exchange also changed its slogan. Now, the exchange has adopted “Just Trade It” as its new brand slogan.
Likewise, Founder of Tron and member of the Huobi global advisory board, Justin Sun confirmed the change of name to HTX. As explained by the executive, the rebranding effort is targeted at placing the crypto exchange as a global brand. Sun explained that the new name; HTX symbolizes some of the core principles of Huobi.
Justin Sun explained that the “H” represents Huobi, while “T” indicates Tron, and “X” stands for exchange. Similarly, the rebranding represents a new era of synergy between the exchange, TRON and Poloniex. As part of the exercise, the exchange with the name HTX will embrace a growth strategy that is driven by “global expansion, thriving ecosystem, wealth effect, security, and compliance.”
Meanwhile, the rebranding surfaced shortly after Huobi partnered with Space ID to initiate a new Web3 name service. According to Binbits, the effort birthed the Space ID SBK that aids users in creating a unique Web3 identity. The Web3 name service is compatible with many networks due to its multi-chain posture.
What users should expect as Huobi changes names to HTX
The exchange will pursue a new mission of building a metaverse with the focus of attaining financial freedom for 8 billion people on Earth. To project this pursuit, HTX will expand the scope of its business by venturing into new markets globally. However, the exchange indicated its willingness to ensure “balance growth” despite the focus on market expansion.
Additionally, the exchange intends to engage in various collaborative efforts to remain a leading firm in the cryptocurrency landscape. Consequently, the exchange will maintain its strategic relationship with partners like TRON, BitTorrent, and TrueUSD. As revealed, HTX formerly Huobi is aiming to collaborate with more public chains, stablecoins, meme coins, and many other crypto projects.
With that, the exchange plans to achieve a multidimensional business ecosystem. As disclosed, HTX will continue to provide professional services and a diverse product lineup such as PrimeVote, Flexi Max, and Shark Fin, among many others. Amidst the rebranding, the exchange emphasized its intention to continue the adoption of a transparent operational system. By that, HTX revealed that it will publish regular updates of Merkle tree-based Proof of Reserves and establish risk reserve and liquidity funds.